We’re excited to offer Fannie Mae’s HomeStyle® Renovation loan, now available for investment properties! Suppose you’re upgrading a single-family rental (SFR) for current tenants or preparing it for new occupants. In that case, this program provides funds for renovating, repairing, and refinancing all-in-one loan.
Features of the HomeStyle Renovation Loan for Investment Properties
– Investment Property Eligibility – Finance single-family rentals (SFR only) to improve tenant living conditions and boost property value.
– 85% Max Loan-to-Value (LTV) – Competitive financing with loan amounts up to $806,500 (where applicable).
– No Minimum Repair Requirement – Whether it’s a minor refresh or major upgrades, you decide the scope of work.
– Flexible Repair Options – Covers:
- Appliances (refrigerators, washers/dryers, etc.)
- Cabinets & Countertops
- Fixtures & Flooring
- HVAC, Roofing, & Structural Repairs
– Streamlined Underwriting – DU Approve/Eligible findings only with up to 50% DTI.
– No DIY Work Permitted – All renovations must be completed by licensed contractors.
Besides the Homestyle renovation loan, we also offer ground-up construction loans and fix-and-flip loans. We suggest getting in touch with one of our MortgageDepot loan officers to get more info on our construction/rehab loans.
