HomesStyle Renovation Mortgage

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Updating your kitchen? Replacing the roof? You can now make your renovation dreams a reality. Through HomeStyle Renovation you can finance your home improvements through a conventional mortgage. The LTV is calculated through taking the renovation project into account, which gives the borrower more purchasing power and more options to make their house a home! 

Did you know that the average renovator spends $33,800 on their first home? This statistic alone scares many potential borrowers away from purchasing a home that needs a little work. This type of loan gives you the opportunity to unleash your inner Chip and JoAnna Gaines and purchase that fixer upper!

 Using HomeStyle Renovation helps to improve the value of your home and lets you customize the property to be exactly what you like. You can also cover landscaping costs through HomeStyle if they are permanently affixed to the property! 

Here’s the best part about HomeStyle Renovation Loans


  • Simple – With standard pricing and conventional execution, loan funds can be delivered even before the project starts (subject to lender approval).
  • Flexible –HomeStyle renovation can be used on any renovation project and can help save deals that have repair contingencies, up to 97% LTV or 105% CLTV with eligible Community Seconds financing.
  • Affordable – Renovation costs may be approved up to the lesser of 75% of the purchase price plus renovation costs or the as-completed appraised value, and competitive rates that may be lower than a home equity line of credit (HELOC), personal loans, or credit cards debt.

Another great perk is that you can also bundle your benefits with other options from Fannie Mae to get the most out of your conventional mortgage.

HomeStyle Energy: If energy or water efficiency upgrades, or resiliency upgrades, are part of your borrower’s renovation plans, bundle your HomeStyle Renovation loan with HomeStyle Energy to qualify for a $500 LLPA adjustment credit.

HomeReady: Our low down payment mortgage has lower rates and cancellable mortgage insurance (restrictions apply). Combine this mortgage with HomeStyle Renovation to make financing renovation projects even more affordable.

Your Mortgage

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To get started with the mortgage loan process, get a free rate quote, or fill out our online loan application to get pre-approved!

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