Fannie Mae HomeStyle Renovation Mortgage

The HomeStyle Renovation Mortgage is a single-close loan that lets you buy or refinance a home in need of repairs or updating. That’s right, even if you already own your home it’s possible
to refinance your current mortgage and include the funds needed for repairs.

The loan amount for the HomeStyle Renovation mortgage is based on the “After Completed Value” of the home rather than what the home is currently worth.

Program Details

• 1-4 Unit Owner Occupied Up to 95% LTV
• Second and Vacation Homes
• Investment Properties
• Total Cost Of Project Cannot Exceed 50% Of The Completed Value
• Minimum 3% Down Payment with Gift
• Maximum 3% Seller Contribution allowed
• Existing Properties Only