HomeStyle fits when you can qualify conventionally and want purchase (or refinance) plus rehab in one loan — with broader improvement options and cancellable PMI. It is not the only renovation path; FHA 203(k) or cash-out alternatives may win on your numbers.
Four signals that conventional renovation financing is worth modeling first.
Related decision and qualification guides.
Credit, occupancy, and underwriting basics.
Side-by-side program comparison.
After-improved value and LTV.
One-loan purchase-plus-rehab path.
Cross-program renovation decision guide.
Full program overview and guide directory.
Buyers or homeowners with conventional-ready credit who want to finance purchase (or refinance) plus eligible renovations in one loan — especially when they need broader improvement flexibility, cancellable PMI, or second-home / investment occupancy.
When credit is thinner, the home is your primary residence, and the scope fits HUD guidelines. Lifetime MIP vs cancellable PMI is a key long-term cost tradeoff to model.
Financed escrow work generally needs licensed contractors. DIY may stay outside the loan as personal cash work, but sweat equity is rarely financed. See our DIY guide for details.
No. Guidelines, overlays, LTV limits, and pricing change. This page is educational only. Ryan and Steve review your property, bids, and credit against current rules before pre-approval.
Share your property and remodel goals — Ryan & Steve will compare HomeStyle with FHA 203(k) and other options so you choose with clear numbers.
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.