Homestyle Renovation Loan
Turn the house you like into the home you LOVE!
The Fannie Mae Homestyle® Renovation loan was designed for those who would like to purchase a home and fix it up or for homeowners who want to remodel their current home all in one loan. There are few restrictions and it’s also available for investment properties and second home purchases. A minimum of 5% down payment is required for a primary, single-family home. Second homes require 10% down and for the investor out there a minimum of 20% down.
Example renovation:
- Kitchen Remodels
- Bathroom renovations
- Room additions
- Swimming pools and spas
- Landscaping
- Flooring
- Finishing off a basement
- New roof, furnace, AC
- And More!
Learn More Renovation Loan Process
Latest Blog Post
Jumbo vs Conventional Loan
JUMBO LOAN VS. CONVENTIONAL: WHAT KALAMAZOO MOVE-UP BUYERS MUST KNOW
Are you shopping for a luxury executive home or a custom build in Texas Township, Portage, or Richland?
Yesterday, a move-up buyer walked into my office after touring a gorgeous five-bedroom home near Texas Corners. The listing sat well above their previous starter home price point, and they were trying to calculate their down payment strategy.
They asked me, “Jeremy, at what price point does our mortgage switch from a standard Conventional loan into a Jumbo loan? Do Jumbo loans require massive 20% cash down payments?”
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