Benefits Of Fannie Mae HomeStyle Loan. With the HomeStyle Mortgage, the minimum loan amount is $50,000 and the maximum loan amount is in reference to the conforming loan limit (1,000). Repairs and renovations must be completed within 6 months and cannot exceed 50% of the after improved appraised value. With the Fannie Mae HomeStyle loan,
Their new loan amount is now $268,700. This includes the refinance of their first and second mortgage as well as $70,000 in renovation costs. Another client found a great home in the historic district of McKinney, TX. Using the Fannie Mae HomeStyle renovation loan they were able to purchase and renovate the property.
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Loan amounts typically fund between 65% – 95%.Homestyle Loans in Patton neighborhood in Round Rock, TX Homestyle Loans in Westview Townhomes neighborhood in Bryan, TX The Fannie Mae HomeStyle Renovation Loan in Texas – The Fannie Mae HomeStyle Renovation Loan in Texas.
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