Whether you already own a home you want to upgrade or repair, or you are looking to buy a fixer-upper, a Homestyle Renovation makes it easy and affordable.
What is a Homestyle Renovation Loan?
Homestyle Renovation loans are a Fannie Mae product. They roll together the financing to mortgage a home and the financing to repair or upgrade it.
By combining the financing for both purposes into a single loan product, a Homestyle Renovation loan speeds up and streamlines the application process. It also costs less in terms of closing and fees than two separate loan products would.
There are two ways you can use a Homestyle Renovation loan:
- Buy a new home and improve it.
- Improve your existing home and refinance your mortgage at the same time.
What Can You Do with a Homestyle Renovation Loan?
One of the best things about Fannie Mae Homestyle Renovation loans is how versatile they are. You can use the financing from this type of loan for projects like:
- Making necessary home repairs.
- Installing luxury upgrades.
- Doing work on your landscaping.
This lack of limitations means that if you can dream it, you can use a Homestyle Renovation loan to make it happen. If you have any questions about your intended use of the loan, we can answer them during your consultation.
Renovate Your Home with a Flexible Mortgage
It is time to turn purchase a beautiful fixer-upper or transform the house you live in now into your true dream home. Please contact us today at (951) 531-1399 to schedule your HomeStyle Renovation loan consultation. We work with homebuyers and homeowners throughout California, Florida, Oregon, Nevada, Colorado and Washington State. We will walk you quickly and easily through the application process so you can get to work on your home upgrades.
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