Pacific Choice Mortgage

HomeStyle Renovation Loan


While move-in ready starter homes can be especially tough to get these days, many fixer-uppers languish on the market as homebuyers pass them by. Older homes in need of repair might not have been on your radar. That’s understandable—houses can be expensive to fix up. That is why the FNMA HomeStyle® program may be the best option for you.

The FNMA HomeStyle® Renovation Mortgage is a ONE-TIME CLOSE loan that enables borrowers’ to purchase a home that needs repairs. This renovation loan provides you enough money to buy a fixer upper and turn it into the home of their dreams by making renovations and repairs and rolling the repair/renovation costs into the mortgage.


  • Conventional loan amounts
  • Maximum LTV – Purchase up to 97%
  • 75% of the “as-completed” value (including condominiums)
  • Property Types – One- to four-unit principal residences, one-unit second homes, or one-unit investment properties, including units in condos, co-ops, and PUD
  • Occupancy Types – Principal Residence, Second Home and Investment
  • Credit Score – 620
  • Max DTI – Up to 45%
  • A Renovation Team that is dedicated and will be involved with your file throughout the entire process
  • Draws/disbursements handled in-house
  • Single close process makes it easy
  • Can Finance Accessory Units (in-law suites, basements, apartments, etc.)
  • Can use ANY licensed contractor


Improvements can include structural, electrical, plumbing, heating/air conditioning or roofing repairs and alterations.  Types of renovation include:

  • Remodeling of Kitchen & baths
  • Landscaping
  • Install Swimming Pool and/or Spa
  • Barbecue Pit
  • Gazebo
  • Interior/Exterior painting
  • Decks
  • Repair Foundation
  • Repair/Replace septic or well