Finance Product Details
Fannie Mae Homestyle Renovation Mortgage by imortgage
Lender: Fannie Mae Homestyle Renovation Mortgage by imortgage
Verified by Lender on: 9/21/2016
The data provided is for informational purposes only. For actual loan terms specific to borrowers, contact the lender directly.
Property Types
Sponsor:
Financing Type
Financing & Payment Information
Rate (APR):
Market Rate
Term (years):
years
Minimum Amount:
$0
Maximum Amount:
N/A
Fees:
One-time fees
Down Pmt. Required:
No
Re-pmt. Method:
Unknown
Pmt Frequency:
Pre-pmt Penalty:
No
Allowable Projects
Other Program Requirements
Financing Approval Time
Equity in Property Needed
No
Other Variations of this product
Fannie Mae Homestyle Renovation Mortgage by imortgage
Property Types | ||
Sponsor | ||
Financing Type | Secured loan | Secured loan |
Term (years) | 15, 20, 30 year(s) | year(s) |
Rate (APR) | Market Rate | Market Rate |
Min. Amount | $50,000 + | $50,000 |
Max. Amount | N/A | N/A |
One-time Fees | Varies | No |
Ongoing Fees | No | No |
Description | Fannie Mae's Homestyle Renovation Mortgage helps homeowners finance the cost to repair, improve or upgrade their home as part of an insured home purchase or refinance mortgage. Renovations and other non-energy home improvements may be financed. The actual mortgage loan is provided through a Fannie Mae-approved lender, such as imortgage. The additional renovation project cost available to the homeowner through the Homestyle Renovation Mortgage is limited to 50% of the “as completed†appraised value of the home. As with any typical mortgage, the Homestyle Mortgage can be structured in many different ways that may include closing costs, fees or points. Additionally, it may include a monthly mortgage insurance fee. | Fannie Mae's Homestyle Renovation Mortgage helps homeowners finance the cost to repair, improve or upgrade their home as part of an insured home purchase or refinance mortgage. Renovations and other non-energy home improvements may be financed. The actual mortgage loan is provided through a Fannie Mae-approved lender, such as imortgage. The additional renovation project cost available to the homeowner through the Homestyle Renovation Mortgage is limited to 50% of the “as completed†appraised value of the home. As with any typical mortgage, the Homestyle Mortgage can be structured in many different ways that may include closing costs, fees or points. Additionally, it may include a monthly mortgage insurance fee. |