HomeStyle® Renovation Mortgage    NEW & IMPROVED!

Borrowers now have an easy and affordable option to finance home renovations.

HomeStyle Renovation is a conventional mortgage that lets borrowers finance improvements, renovations or repairs to a home at the time of purchase or as a refinance transaction—up to 75% of the as-completed appraised value of the property.

• Flexible Purchase or refinance option for any renovation project such as design updates or improvements, and even renovating accessory units like in-law suites or basement apartments.
• Affordable Your borrowers can take advantage of competitive rates, which may be lower than a home equity line of credit (HELOC) or a personal loan.
• Simple Standard pricing and conventional execution. Loans can be delivered even before the project starts and eligible for R&W relief once complete.

For more information please click link below.
https://www.fanniemae.com/content/fact_sheet/homestyle-renovation-overview.pdf