HomeStyle® Renovation
Fannie Mae's HomeStyle Renovation loan allows you to finance both the purchase and renovation of a home with one loan, with down payments as low as 3% for eligible borrowers.
3%
Min. Down Payment
75% LTV
Max. Renovation
All
Property Types
Key Features
- Down payment as low as 3%
- Finance up to 75% of completed value
- Wide range of renovation types allowed
- Can use for primary, second, or investment property
Benefits
- Single loan for purchase and renovation
- Lower rates than construction loans
- More flexible than 203(k) loans
- Can include luxury improvements
Requirements
- Credit score of 620+
- Detailed renovation plans and budget
- Licensed contractor for major work
- Standard conventional loan requirements
Ideal For
- Buyers purchasing fixer-uppers
- Homeowners refinancing with renovations
- Real estate investors
- Those wanting extensive customization
Ready to Get Started?
Contact Jimmy Joseph MBA to discuss your homestyle® renovation options.
Jimmy Joseph MBA
NMLS #1577754
Branch NMLS #2477715
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