The Fannie Mae HomeStyle® Renovation mortgage permits borrowers to include financing for home improvements in a purchase or re-finance transaction of an existing home. HomeStyle® Renovation provides a convenient way for borrowers to make renovations, repairs, or improvements totaling up to 75% of the as-completed appraised value of the property with a first mortgage, rather than a second mortgage, home equity line of credit, or other, more costly financing method. You leverage the "future" equity of the home based on the improvements rather than the existing equity without them. Eligible borrowers include individual home buyers, investors, nonprofit organizations, and local government agencies.

 

If you’d like more information on Renovation loans or if you’re ready to apply and get preapproved, complete the contact form below.