Summary
By utilizing Fannie Mae’s Home Style Renovation Program, we offer renovation loans that allow you to purchase or refinance a home mortgage and combine the renovation costs.
Qualifications
Minimum Down Payment
5% of sales price (can be gift from family member)
Minimum Credit Score
620
Max Debt-To-Income Ratio
50%
Non-Occupant Co-Borrower
Allowed
Mortgage Insurance
Yes (can be built into loan)
Eligible Property Types
Single family residence, 1-2 unit, PUD’s, townhouse, and condo
Max Loan Amount
$548,250
Occupancy Type
Primary, Secondary, and Investment