Fannie Mae HomeStyle mortgage information. Max LTV is 97%. Minimum FICO is 620. Property types include Single Family, Condo, TWN, Multi, Manu. Occupancy types include Primary, Second, Inv. Loan terms are 8-30 years in 1-year increments. Renovation costs can be included in the mortgage amount.

Unlocking the Benefits of HomeStyle

Key Loan Details

  • Purchase or Refinance: You have the option to buy a home that requires repairs or remodel your current residence.

  • Financing for Renovation Costs: You can finance up to 75% of the "as completed" value for renovation expenses.

  • Streamlined Limited HomeStyle: This option is perfect for borrowers seeking to finance small-scale renovations.

  • Combination with HomeReady: The renovation loan can be combined with the affordability program for added benefits.

  • Flexible Funding Sources: Down payments and closing costs can be covered through gifts, grants, or Community Seconds®, with no minimum personal contribution required for primary residences.

  • Investment Opportunity: HomeStyle can also be used for investment properties.

  • Overcoming Obstacles: Even if a property is not perfect or there are eligibility issues, HomeStyle can help you overcome these obstacles and turn the property into what you need.

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