What is a HomeStyle Renovation Loan?

A HomeStyle Renovation Loan is a Fannie Mae–approved mortgage that allows borrowers to finance the purchase or refinance of a home along with eligible renovation and repair costs in a single loan.

What types of renovations are allowed?

Funds may be used for repairs, remodeling, additions, energy-efficiency improvements, or other renovations permanently affixed to the home that add value, subject to program guidelines.

Can I choose my own contractor?

Yes. Borrowers typically choose their own contractor, provided the contractor meets program and lender requirements.

What types of properties are eligible?

HomeStyle Renovation Loans may be available for primary residences, second homes, and investment properties, depending on borrower qualifications and program rules.

How is the loan amount determined?

Loan amounts are generally based on the lesser of the property’s as-completed appraised value or the total acquisition and renovation cost, subject to loan-to-value limits.

Can borrowers with past credit events qualify?

In some cases, borrowers with past bankruptcies or short sales may be eligible if required waiting periods have been met and other guidelines are satisfied.

Renovate Your Home With Style | Castle & Cooke Mortgage

The HomeStyle Renovation Loan enables you to revitalize your home without the restrictions of a standard construction loan. This Fannie Mae approved loan funds any renovation or repair totaling up to 75% of the appraised value of your property.

Improvement funds can be used to repair, remodel, add energy efficiency or renovate anything permanently affixed to the home that adds value to the property. You choose your contractor.

Program Highlights

All-in-one loan, no second mortgage needed
Available for primary residence, second homes and investment property
Loan amount based on "as-completed" value of the home or the cost basis, whichever is less
Borrowers may qualify for a loan of up to 95% of the value of the home
Past bankruptcy and short sales may be okay if they are past the waiting period

Ready to make some changes? Contact your Castle & Cooke Mortgage loan officer today or click here to find a loan officer near you.

Renovate Your Home With Style

Program Highlights

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