Learn what the Fannie Mae HomeStyle® Renovation loan is — one conventional mortgage for purchase plus rehab, sized on after-improved value.
What Is a Fannie Mae HomeStyle® Loan? | The 2 Mortgage Guys
Learn what the Fannie Mae HomeStyle® Renovation loan is — one conventional mortgage for purchase plus rehab, sized on after-improved value.
What Is a Fannie Mae HomeStyle® Renovation Loan?
Conventional Rehab — Not a Separate Construction Loan
At a Glance
How HomeStyle Differs From a Standard Mortgage
HomeStyle vs. Standard Conventional vs. FHA 203(k)
Keep Exploring
Frequently Asked Questions
See If HomeStyle Fits Your Fixer-Upper
HomeStyle® is Fannie Mae's conventional renovation mortgage for purchase or rate/term limited cash-out refinance on primary, second, and investment properties — one loan for the home and eligible improvements, sized on after-improved value. Underwriting requires DU Approve/Eligible; manual underwriting is not permitted.
A standard mortgage funds the purchase price. HomeStyle adds a renovation component: eligible repair and upgrade costs roll into the same conventional note, and the lender bases qualification partly on what the home will be worth when work is done.
After closing, renovation dollars typically sit in escrow. Licensed contractors are paid as inspections confirm progress — you do not receive the full rehab budget as cash at the closing table.
Ryan and Steve compare HomeStyle with FHA 203(k) and VA renovation before you write a rehab-heavy offer so the program matches your credit, occupancy, and scope of work.
Four structural differences that matter when you are buying a fixer-upper.
Related HomeStyle guides and renovation programs to compare before you apply.
Ryan & Steve will review your property, scope of work, and credit profile against HomeStyle guidelines at Luminate Bank.
HomeStyle is a registered trademark of Fannie Mae. All loans are subject to credit and property approval. Program guidelines, LTV limits, and pricing are subject to change without notice and may not be available in all areas. This website is not affiliated with or endorsed by Fannie Mae, HUD, or any government agency. Information is for educational purposes only and is not a commitment to lend.
- window.open(APPLY_URL, '_blank', 'noopener')} className="px-8 py-4 rounded-xl text-[#020617] text-lg font-semibold transition-all duration-200 hover:shadow-[0_0_20px_rgba(30,205,241,0.25)] active:scale-[0.98]" style= >Get Pre-Approved
- setOpenFaq(openFaq === i ? null : i)} className="w-full flex items-center justify-between gap-4 px-5 py-4 text-left transition-all active:scale-[0.99]">