Renovation Financing: Allows you to finance the purchase of a home along with the cost of renovations or repairs in a single loan.
Flexible Use of Funds: Can be used for a wide range of improvements, from minor repairs to major renovations, including structural changes and landscaping.
Low Down Payment Options: Requires as little as 3% down for eligible borrowers, making it accessible for many homebuyers.
Primary, Second Homes, and Investment Properties: Available for various property types, including primary residences, second homes, and investment properties.
No Maximum Repair Limit: Unlike some other renovation loans, there is no cap on the amount of repairs or renovations you can finance, as long as they are within the overall loan limit.
Standard Mortgage Requirements: Follows typical Fannie Mae mortgage guidelines, which can make qualification more straightforward for many borrowers.
Energy-Efficient Improvements: Funds can also be used for energy-efficient upgrades, potentially lowering utility costs and increasing the home's value.
Increased Property Value: Renovations financed through the HomeStyle Loan can enhance the property's market value, making it a smart investment.
