Fannie Mae Homestyle purchase loan

Get Pre-Qualified Today!!!

Can't Find The House You're Looking For? Fannie Mae Homestyle Loan Is A Great Way To Make Any House Your Dream Home.

Find Out Your eligibility TODAY...

A Fannie Mae HomeStyle purchase loan provides a comprehensive financing solution for those wishing to purchase and renovate a property, whether it be a primary residence, second home, or even an investment property. This loan incorporates both the property's purchase price and the projected renovation costs into one convenient mortgage. The HomeStyle loan's key advantage is its flexibility, accommodating a wide array of renovations and property types. While the loan does require careful planning, including a thorough renovation proposal and in some cases, involvement of a HUD Consultant. it offers competitive rates and caters to both minor and major renovations. Uncover the potential of a Fannie Mae HomeStyle purchase loan today, and seize the opportunity to invest in and personalize a property to fit your vision, all under one mortgage

Begin the home buying journey on the right foot by securing a clear mortgage plan. Having a solid financial strategy in place will ensure that your home search is guided by practical considerations, rather than emotions alone.

In which state are you looking to purchase a property?

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What type of property are you interested in purchasing?

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What is your gross annual income?

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What Is a Fannie Mae HomeStyle Purchase Loan?

The Fannie Mae HomeStyle loan offers a comprehensive financing option for those purchasing and renovating a property. Whether it’s a primary residence, second home, or investment property, this loan caters to a variety of needs and property types.

The key benefits include:

  • Combined Financing: Purchase and renovation costs are rolled into one convenient mortgage.

  • Flexibility: Suitable for a wide array of property types, including single-family homes, multi-unit properties, and even eligible condos.

  • Wide Range of Renovations: From minor cosmetic updates to major structural overhauls, almost any renovation can be covered.

  • Competitive Rates: Offers competitive interest rates comparable to standard home loans.


Why Choose a HomeStyle Loan?

While this loan requires careful planning, such as a detailed renovation proposal and possibly a HUD consultant for larger projects, it offers a streamlined way to finance and personalize a property.

This loan is perfect for buyers who:

  • Want to purchase a fixer-upper and make it their own.

  • See potential in a property but lack upfront funds for renovations.

  • Are interested in investment properties or vacation homes.

  • Desire a single, consolidated loan instead of managing separate financing for purchase and renovation.


Key Features of the HomeStyle Loan

One Mortgage, Dual Purpose:
Combine your property purchase and renovation costs into one streamlined loan.

  1. Flexibility in Renovations:

    • Covers minor updates like painting, flooring, or new appliances.

    • Includes major projects like adding a new room, replacing a roof, or upgrading systems (e.g., HVAC, plumbing).

    • Allows for luxury additions, such as pools or landscaping, as long as they add value to the property.

  2. Competitive Interest Rates:
    Compared to traditional home loans, HomeStyle loans offer attractive rates, even for significant renovations.

  3. Eligible Property Types:

    • Primary residences.

    • Second homes.

    • Investment properties.

  4. Increased Equity Potential:

    Renovations can boost the property’s value, building equity faster.


Steps to Get Started

  1. Get Pre-Qualified:

    Determine your eligibility and understand your budget.

  2. Find the Right Property:

    Look for properties that meet your criteria and have potential for renovations.

  3. Plan Your Renovations:

    Create a detailed renovation plan, including contractor estimates.

  4. Work with a Trusted Lender:

    Complete the application process, rolling the property’s purchase price and renovation costs into one loan.

  5. Transform Your Property:

    Close on your loan and start bringing your vision to life!

Getting pre-approved for a home loan is the crucial first step in your home buying journey. Here's why:

  • Know Your Budget:

    Pre-approval helps you identify how much you can afford, enabling smarter decisions.

  • Be a Competitive Buyer:

    A pre-approval letter demonstrates your financial readiness to sellers.

  • Streamline the Process:

    Address potential issues upfront, so you’re ready to move forward when you find the right property.

  • Negotiate with Confidence:

    Secure financing gives you leverage to negotiate the best terms.

fannie mae homestyle loan


Frequently Asked Questions (FAQs)

1. What is a Fannie Mae HomeStyle loan?

A HomeStyle loan is a type of mortgage that combines the purchase price of a home and the cost of renovations into a single loan.

2. Who is eligible for a HomeStyle loan?

Eligible borrowers include those purchasing a primary residence, second home, or investment property. A good credit score, stable income, and manageable debt-to-income ratio are typically required.

3. What types of renovations are covered?

Almost all types of renovations are eligible, including:

  • Cosmetic upgrades (e.g., painting, flooring).

  • Structural repairs or additions.

  • Energy-efficient improvements.

  • Luxury additions (e.g., pools, outdoor kitchens).

4. How is the renovation process managed?

Borrowers must submit a detailed renovation proposal, including contractor bids and timelines. Funds for renovations are typically held in escrow and disbursed as work progresses.

5. Are there restrictions on property types?

The HomeStyle loan can be used for single-family homes, multi-unit properties (up to four units), eligible condos, and even manufactured homes that meet Fannie Mae guidelines.

6. Can I use a HomeStyle loan for an investment property?

Yes, HomeStyle loans allow for financing of investment properties, making it a great option for real estate investors.

7. What’s the difference between a HomeStyle loan and an FHA 203k loan?

  • HomeStyle Loan:

  • Allows for luxury improvements.

  • Available for second homes and investment properties.

  • Requires a higher credit score.

  • FHA 203k Loan:

  • Restricted to primary residences.

  • Includes stricter guidelines for eligible repairs.

  • Offers more lenient credit requirements.

8. How does a HomeStyle loan impact my monthly payments?

Monthly payments are based on the combined loan amount (purchase price + renovation costs). While this may result in slightly higher payments than a standard mortgage, the added value from renovations often offsets the cost.

9. Can I live in the property during renovations?

In many cases, yes. However, for major structural work, temporary relocation may be necessary.

10. Are luxury upgrades eligible?

Yes, as long as the upgrades add value to the property and meet loan requirements.


Transform Any House into Your Dream Home

The Fannie Mae HomeStyle purchase loan empowers you to see the potential in any property and make it your own. Whether you’re looking to personalize your primary residence, upgrade a vacation home, or enhance an investment property, this loan is the perfect solution.

Get Pre-Qualified Today and take the first step toward turning your vision into reality!

Kam Financial & Realty, Inc.

NMLS# 1039324

Contact Us

9920 Pacific Heights Blvd. Ste. 150

San Diego, Ca 92121

Kam Financial & Realty, Inc. is an Equal Housing Lender. We fully comply with the Equal Credit Opportunity Act (ECOA) and all other Federal regulations. All applicants applying for credit from Kam Financial & Realty, Inc. will never be discouraged on on the basis of race, color, religion, national origin, sex, military status ,marital status, age, or because you get public assistance. All information we request is voluntary, and will be kept confidential. For more information on the ECOA, please visit:

http://www.ftc.gov/bcp/conline/pubs/credit/ecoa.shtm

© Copyright 2025 | Kam Financial & Realty, Inc. | All rights reserved.

© Copyright 2025 | Kam Financial & Realty, Inc. | All rights reserved.