HOMESTYLE RENOVATION LOANS

Finance the Home You Love with One Mortgage

Transform potential into your dream home. A Homestyle Renovation Loan allows you to finance both the purchase and all your planned improvements into a single, convenient mortgage.

LOAN OVERVIEW

What Is a Homestyle Loan?

A Fannie Mae Homestyle Renovation loan is a single-close mortgage that allows you to purchase a property and finance the cost of its renovation all at once.

Instead of taking out a first mortgage to buy the home and a separate, higher-interest personal loan or credit line for repairs, you combine both into one convenient monthly payment based on the home's future "as-completed" value.

Bright, beautifully renovated kitchen representing the potential of a Homestyle loan

Home Purchase

+

Renovation Costs

One Single Mortgage

One closing. One interest rate. One monthly payment.

How It Works

The Blueprint Process

Navigate your home transformation with clarity. Our structured six-step approach ensures your financing and renovation plans align perfectly, taking you from initial concept to the final finishing touches with confidence.

01.Purchase or Refinance

Secure the core financing for your property under a single, unified loan, combining both home value and renovation costs.
02.Renovation Plan

Collaborate with architects and designers to outline your vision, creating a structured scope of work for the transformation.
03.Contractor Estimates

Obtain detailed bids from licensed, qualified professionals to lock in your project costs before financing is finalized.
04.Loan Approval

Finalize your Homestyle mortgage, officially securing the capital needed to bring your architectural plans to life.
05.Escrow Funds

Your dedicated renovation budget is safely held in an interest-earning escrow account, ready for deployment.
06.Project Completion

Contractors draw funds in scheduled increments as work progresses, ensuring quality until your dream home is realized.

STRATEGIC ADVANTAGES

Unmatched Flexibility

Unlock the true potential of your property with authoritative financial strategies designed to accommodate major architectural transformations, preserving your cash while maximizing value.

One Loan Convenience

Combine your purchase or refinance with renovation costs into a single, manageable monthly payment with one set of closing costs.

Luxury Improvements

Unlike some programs, Homestyle allows for high-end aesthetic enhancements, including custom landscaping and luxury additions like swimming pools.

Preserve Cash Reserves

Keep your personal savings intact for unexpected expenses by rolling the complete cost of structural updates directly into the mortgage.

Increase Property Value

Borrowing against the future appraised 'after-improved' value empowers you to build equity and secure returns on your investment immediately.

Finance Large Projects

Tackle major structural changes, expansions, and comprehensive remodeling efforts that traditional renovation loans often restrict or deny.

Flexible Options

Enjoy adaptive terms tailored to your unique timeline and financial standing, accommodating primary homes, second homes, and investment properties alike.

See the Potential

Endless Possibilities

A Homestyle loan offers unmatched flexibility. Transform your property with almost any improvement imaginable.

Kitchens

Bathrooms

Pools

Outdoor Living

Flooring

Roofing

Additions

Energy Upgrades

Loan Comparison

Homestyle vs FHA 203(k)

Understanding the key differences between standard renovation loans helps you choose the right path for your project goals and property type.

Spec	Homestyle	FHA 203(k)
Down Payment	As low as 3–5%	As low as 3.5%
Property Types	1–4 units, condos, second homes, & investments	1–4 units, primary residence only
Renovation Flexibility	Any improvement securely attached to property	Health, safety, structural, & cosmetic updates
Luxury Improvements	Allowed (including swimming pools & outdoor kitchens)	Not allowed (no new pools or luxury additions)
Credit Requirements	Generally 620+ credit score required	More flexible, often 580+ credit score accepted

Consult with Ashley to verify current loan guidelines and your specific eligibility.

IDEAL BORROWER PROFILE

Is This Right For You?

A Homestyle Renovation Loan is the perfect financing strategy if you fall into one of these categories.

Purchasing a Fixer-Upper

You've found a property with great bones in the perfect neighborhood, but it needs significant work before it truly feels like home.

Planning Major Renovations

You want to completely transform your current home with structural changes, room additions, or a full floor plan reimagining.

Desiring Cosmetic Updates

You're eyeing a home that just needs a modern touch—updated kitchens, fresh bathrooms, new flooring, or contemporary finishes to elevate the space.

Seeking Luxury Upgrades

You want to add high-end amenities like a custom swimming pool, outdoor kitchen, or premium landscaping that other financing options simply restrict.

YOUR QUESTIONS, ANSWERED

Clarity & Confidence

Have questions about financing your renovation? We're here to help you navigate the details and find the right strategy for your home transformation. If you don't see your question here, feel free to ask.

Schedule a Consultation

Can I finance a pool with a Homestyle Loan?

Yes, unlike some other renovation loans, Homestyle allows for luxury improvements, including swimming pools, outdoor kitchens, and extensive landscaping, provided they add permanent value to the property.

Is a general contractor required?

Generally, yes. Fannie Mae requires that all renovation work be completed by a licensed, insured contractor to ensure quality and compliance. This protects your investment and ensures the work meets local codes.

Can I use a Homestyle Loan for a fixer-upper?

Absolutely. It's designed specifically for purchasing a home that needs significant updates, allowing you to roll the purchase price and the renovation costs into a single, convenient mortgage.

What types of properties qualify?

Primary residences, second homes, and single-unit investment properties are typically eligible. This offers significantly more flexibility than traditional FHA 203(k) loans, which are restricted to primary residences.

Professional portrait of Ashley Courville, Mortgage Planning Expert

Renovation Financing Specialist

Meet Ashley Courville

As a Mortgage Broker and Planning Expert, I am passionate about helping buyers see the hidden potential in homes and creating the smart financing strategies that make those renovations possible. Whether you are purchasing a fixer-upper or transforming your current residence, my goal is to guide you through the process with clarity and confidence.