Get funds to cover the cost of repairs, remodeling, renovations, or energy-efficient upgrades to your property when you use the HomeStyle Renovation program to obtain a purchase transaction mortgage or a limited cash-out refinance mortgage. HomeStyle Renovation loans let you make needed repairs and renovations with a single-close first mortgage, so you don’t have to apply for a second mortgage, home equity line of credit, or other financing method.

Repairs don’t need to abide by any required improvements, restrictions, or minimum dollar amount, but must be permanently affixed to the real property and add value to it. For energy-efficient upgrades, borrowers must obtain an energy report to identify recommended energy improvements to the property, as well as the estimated cost savings with those improvements.

  • 5% minimum down payment for primary, single-family homes (10% for second homes)
  • 3% minimum down payment if using gift funds toward down payment and closing costs toward owner occupied, primary residences
  • 3% seller contribution allowed
  • Cosmetic and structural renovations allowed, including landscaping, appliances, swimming pools, etc.

Whether you’re looking to purchase a home and fix it up, or refinance and remodel your current home, HomeStyle Renovation Loans are an effective option for affordable property improvements.

What is the HomeStyle Renovation Loan?

Downloads

HomeStyle Renovation Mortgage Buyer’s Guide

*Down payment and other terms shown are for informational purposes only, and are not intended as an advertisement or commitment to lend. Not all borrowers will qualify; please contact us for an exact quote and more information on fees and terms.