HomeStyle Renovation

On September 16, Fannie Mae launched a new education course called HomeStyle® Mortgages Unlocked. Take this course to learn more about how to originate, sell, and service both HomeStyle Renovation and HomeStyle Energy mortgages. Click here to get started.

Make “move-in ready” a reality for homebuyers

HomeStyle® Renovation unlocks financing options that help borrowers tap into a home’s true potential. Lenders can take advantage of resources that help borrower’s meet their needs as they consider purchasing fixer-uppers. Whether your borrowers are just starting their homebuying search or ready to refinance and remodel, HomeStyle Renovation can pave a new way to home.

Covering projects and possibilities

saw and hammer

Repairs and Restoration

roofing, plumbing, painting

house outline

Accessory Dwelling Units

mudrooms, in-law suites, basement apartments

shovel

Landscaping

trees, retaining wall, patios

Benefits that deliver

Flexible

Borrowers can renovate any part of their home, including bathrooms, roofs, or adding accessory dwelling units like an in-law suite. No minimum dollar amount. Choose any contractor or subcontractor (pending lender review).

Affordable

HomeStyle Renovation interest rates may be lower than HELOCs, personal loans, and other more costly financing options. Plus, the home improvements borrowers invest in today help support the ability to age in place or expand future living space.

Simple

We know an easy and upfront loan delivery is crucial for lenders and borrowers. With standard pricing and conventional execution, loan funds can be delivered even before the project starts (subject to lender approval).

Details that add clarity and confidence

For a more detailed look into the HomeStyle Renovation loan process, check out our HomeStyle Mortgages Unlocked education course.

HomeStyle Renovation Loan Process

Phase 1 – Preparation

Phase 2 – Renovation

Phase 3 – Completion

*Contractor subject to lender review. For DIY requirements, visit the Fannie Mae Selling Guide.

HomeStyle Renovation Lender Approval Process

One of the best parts about being an approved HomeStyle Renovation lender is the ability to deliver a loan to Fannie Mae before a project is complete.*

Get the lender approval process started by completing Form 1000A or contact your Fannie Mae customer account team to learn more.

*Delivering loans post-completion does not require special approval.

Eligibility Requirements

See Fannie Mae’s Product Eligibility Matrix for specific product details based on the loan transaction

Bundled Benefits

Combine HomeStyle Renovation with other Fannie Mae offerings to give borrowers more benefits:

HomeStyle Energy: If your borrower is planning on ENERGY STAR®-certified improvements or resiliency, water, or other energy upgrades, then the HomeStyle Renovation loan may be bundled with HomeStyle Energy to qualify for a $500 LLPA credit.

HomeReady®: Our low down payment mortgage has lower rates and cancellable mortgage insurance (restrictions apply). When combined with HomeStyle Renovation, HomeReady can make financing renovation projects even more affordable.

Note: HomeStyle Renovation loans that finance energy efficiency improvements or renovations in rural areas may qualify for an LLPA waiver for Duty to Serve. See Duty to Serve eligibility requirements for details.