Fannie Mae HomeStyle Renovation Loan
Learn why renovation lending is important in today’s real estate market.
What is a Fannie Mae HomeStyle renovation loan?
Learn the eligible renovations and allowable repairs such as roof, gutters, down spouts, energy efficient items, hvac systems, hot water heaters, foundations, swimming pools, outdoor kitchens, saunas, interior paint, exterior paint, waterproof basements, kitchen remodel, bathroom remodel and more. Renovation lending for homebuyers, homeowners and investors.
Quick Facts about Fannie Mae HomeStyle Renovation Lending:
- Conventional Loan
- 5% Down Payment
- Washington Metro Area Maximum Loan Amount $625,500
- Repairs & Renovations up to 50% of after repaired value (For example, if the after improved value is $625,500, the maximum allowable repair amount would be $312,750)
- Primary residences, second homes or investment properties
- Structural Improvements Allowed
- Luxury Improvements Allowed
*A higher down payment will be needed for second homes and investment properties
Your HomeStyle Advisor and Renovation Specialist.
CALL (703) 474-1754 to learn your options.