For many people, the most attractive part of home ownership is taking a house and truly transforming it into a home of their own. For some this means buying a “fixer-upper” in the perfect location and renovating; for others, this means taking their current home and upgrading with luxury features such as home theaters or pools. In either case, an FNMA Homestyle Renovation Loan is a great choice to suit those needs.
A HomeStyle loan does not have any minimum amount of improvements or any restrictions on the type of repairs that can be included in your loan. The only requirement is that any improvement must be permanently affixed to the property and adds value to it. HomeStyle allows you to build home equity while increasing your comfort and enjoyment in home ownership.
Here are examples of projects that can be financed through Homestyle loans: