HomeStyle® Renovation Refinance Loan Program A HomeStyle® Renovation Refinance allows homeowners to refinance their existing mortgage and finance renovation or improvement costs into one new loan. This program, backed by Fannie Mae, is ideal for borrowers who want to upgrade, modernize, or add value to their home without taking out separate renovation financing.
Who Is This Program For? You may benefit from a HomeStyle® Renovation Refinance if you: Want to renovate your primary residence, second home, or investment property Plan to increase property value through improvements Prefer one loan instead of multiple financing sources Want conventional financing with flexible renovation options
What Can Be Renovated? Eligible renovations may include: Kitchens and bathrooms Flooring, windows, and roofing HVAC, electrical, and plumbing upgrades Structural changes and additions Energy-efficient and accessibility improvements Landscaping and exterior upgrades
Key Benefits One loan for both mortgage and renovations Flexible renovation scope and contractor options Available for primary residences, second homes, and investment properties Competitive conventional loan terms Potential to remove PMI with sufficient equity
What to Expect HomeStyle® renovation refinances typically require: Detailed renovation plans and contractor estimates Licensed contractors Appraisal based on after-improved value Standard income, credit, and asset documentation