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HomeStyle Renovation Home Loan

HomeStyle renovation home loan

Finance a home and eligible renovations together

Use a single-close mortgage to purchase or refinance a home and include renovation funds in the loan balance.

The Fannie Mae HomeStyle Renovation Mortgage may be used to purchase a home that needs repairs or refinance an existing home while including eligible renovation funds. The loan amount is based on the home’s as-completed value.

Eligible project examples

Repairs and improvements

  • Updates to kitchens and bathrooms
  • Structural deficiencies
  • Additions and expansions
  • Decks, pools, and improved landscaping

Program uses

Purchase or improve

  • HUD REO properties
  • Foreclosures and short sales
  • Outdated homes
  • Necessary or optional structural repairs
  • Improve instead of move

Published program information states that improvements must be permanently affixed to the property and add value. There is no required improvement or minimum repair amount listed.

Specialty home loan guidance

More options than a typical big bank

Village Mortgage works with a broad selection of home loan programs and helps borrowers compare options that may fit their credit, income, property, and financing needs.

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