MORTGAGE LOANS

See which loan program is best suited for you and your family.

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FANNIE MAE HOMESTYLE® RENOVATION

The HomeStyle® Renovation Loan can help you both purchase AND rehab your next home. The purchase price and renovation costs are combined into ONE loan with one monthly payment. You can borrow money based on the value of the home AFTER the renovations are completed.

Ways to use HomeStyle® Renovation

Kitchen and bathroom remodels including built-in appliances

Flooring and painting

Roofing, gutters, and downspouts

Repair, replace, or install plumbing, HVAC, and electrical systems

Energy efficiency improvements

Landscape and site improvements

New in-ground swimming pools, BBQ islands, decks, walkways, and patios

Structural alterations, additions, including Additional Dwelling Units (ADUs)

Combine the benefits of HomeStyle® Renovation with other Fannie Mae products

HomeStyle® Energy

If you are planning on ENERGY STAR® certified improvements, resiliency, water, or other energy upgrades, then the HomeStyle® Renovation loan may be bundled with HomeStyle® Energy to qualify for a $500 LLPA credit.

HomeReady®

Unlike FHA Loans, this low down payment mortgage has lower rates and cancellable mortgage insurance. When combined with a HomeStyle® Renovation Loan HomeReady® makes financing renovation projects even more affordable.

Requirements

Eligible Properties:
  • 1-4 unit primary home
  • 1 unit investment home
  • 2nd/seasonal homes
  • Condo FNMA eligible & PUD
Repair Amounts:
  • No minimum
  • Max reno amount CANNOT exceed 75% of the as- completed value
Repair Types:
  • Structural & non-structural
  • Landscaping or site amenities acceptable
Loan-to- Value:
  • Primary 1-Unit 97%, 2-Unit 85%, 3-4 Unit75%
  • 2nd Home: 90%
  • Investment: 1-Unit 85%
Credit Score:
  • 620 min
Home Buyer Education
CONVENTIONAL

CONVENTIONAL LOAN

With low down payment options available

GOVERNMENT

FHA LOAN

Available with down payments as low as 3.5%

GOVERNMENT

VA LOAN

100% financing for eligible Veterans, Reservists and Active Duty Personnel

GOVERNMENT

USDA LOAN

Available in designated rural and suburban areas

SPECIALTY

JUMBO LOAN

A loan for every lifestyle

SPECIALTY

ALL IN ONE LOAN

Get financial flexibility and pay off your home loan faster

GOVERNMENT

203K RENOVATION LOAN

Turn the house you like into the home you love

CONVENTIONAL

FANNIE MAE HOMEREADY

Flexible funding with down payments as low as 3%

CONVENTIONAL

FREDDIE MAC HOMEPOSSIBLE

More possibilities with down payments as low as 3%

SPECIALTY

HOMEFUNDIT

Gifts from family and friends fund your down payment

GOVERNMENT

REVERSE MORTGAGE

Available for homeowners ages 62+

SPECIALTY

HELOC

Turn your home equity into cash in as little as 5 days

SPECIALTY

CMG COMMUNITY ONE GRANT

Purchase a home within a specific zip code with as little as 1% down payment.

GOVERNMENT

FANNIE MAE HOMESTYLE® RENOVATION

Low down payments, big possibilities.

CONVENTIONAL

CONVENTIONAL LOAN

With low down payment options available

CONVENTIONAL

FANNIE MAE HOMEREADY

Flexible funding with down payments as low as 3%

CONVENTIONAL

FREDDIE MAC HOMEPOSSIBLE

More possibilities with down payments as low as 3%

GOVERNMENT

FHA LOAN

Available with down payments as low as 3.5%

GOVERNMENT

VA LOAN

100% financing for eligible Veterans, Reservists and Active Duty Personnel

GOVERNMENT

USDA LOAN

Available in designated rural and suburban areas

GOVERNMENT

203K RENOVATION LOAN

Turn the house you like into the home you love

GOVERNMENT

REVERSE MORTGAGE

Available for homeowners ages 62+

GOVERNMENT

FANNIE MAE HOMESTYLE® RENOVATION

Low down payments, big possibilities.

SPECIALTY

JUMBO LOAN

A loan for every lifestyle

SPECIALTY

ALL IN ONE LOAN

Get financial flexibility and pay off your home loan faster

SPECIALTY

HOMEFUNDIT

Gifts from family and friends fund your down payment

SPECIALTY

HELOC

Turn your home equity into cash in as little as 5 days

SPECIALTY

CMG COMMUNITY ONE GRANT

Purchase a home within a specific zip code with as little as 1% down payment.