Conventional Renovation Loans For
Primary Borrowers and Investors
Fannie Mae "HomeStyle" Renovation Loan
• Rehabilitation Loan Limit: No Limit Up-to Max Loan Amount
1Unit $621,000 - 2 Units $795,000 – 3 Units $960,950 – 4 Units: $1,194,250
• LTV: Loan To Value): 95%.Primary & 97% if First Time Homebuyer85% Investment.
On Purchases LTV is based on lesser of A. Purchase Price plus Renovation or B.
The (ARV) After Repair Value. On Refinances 75% LTV is loan amount divided by (ARV)
After Repair Value.
• Intended Use: Primary, Second Home, Investment (Purchase & Refinance)
• Credit Score: Min 620
• Property Type: PUDS, 1-4 Units, Manufactured Home, Fannie Mae-Warrantable Condos
• Key Points: HomeStyle loans can also be used to build accessory dwelling units, like
a carriage house or garage apartment or to finish a basement for an in-law suite.
Swimming Pools and permanent landscaping allowed. You cannot use
HomeStyle to tear down and rebuild the home.
Key Advantage No Upfront PMI. 10%
Contingency reserve optional to Borrower.
Six months of loan payments can be
financed if the borrower is moving out.
Allows you to finish properties started
bybuilders that are 90% complete.
New: 50%of the material costs can be
pulled on thefirst draw. least 51%
Call or email today or use the Form provided Below to request information. No Cost or obligation.