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With a HomeStyle Renovation Mortgage, you can buy a home and fix it up with the same loan. Learn more about the types of renovation.
Lenders should use the HomeStyle Renovation Maximum Mortgage Worksheet (Form 1035) to calculate the maximum mortgage amount. This summary is intended for reference only. All criteria are subject to the formal terms and conditions of the fannie mae selling guide and Servicing Guide.
The best part is, the Fannie Mae Homestyle Renovation Mortgage can be used on any type of renovation project, provided the improvement is permanently affixed to the property. It can even be used to help lenders save deals that may otherwise fall apart due to repair contingencies.
Fannie Mae In Va How Ginnie Mae differs from Fannie, Freddie. Glad to oblige. Ginnie Mae is a government-owned corporation that guarantees bonds backed by home mortgages that have been guaranteed by a government agency, mainly the Federal Housing Administration and the Veterans Administration.