HomeStyle Renovation Loan is Fannie Mae’s renovation loan program. This loan will be locked in, closed, fully funded and sold to Fannie Mae prior to the renovations being complete on the home. The renovation funds are held in an interest bearing escrow account at GMFS and are drawn from as work progresses on the home. The borrower begins making normal P & I payments through our servicer even while construction is underway.


  • Single-close first mortgage that locks in rate & funds upfront for renovation or repairs
  • Any renovation/repair is eligible – must be permanent to the property\Finance up to 75% of the “as completed” value on a Purchase or Refinance
  • Min. Down Payment = 5% for primary residence / 10% for second home / 3% for first time home buyer
  • REFINANCE = Finance up to 95% of the “as-completed” appraised value / 97% if existing mortgage is Fannie owned / 90% for second home
  • Do-It-Yourself Option in limited scenarios
  • 30 & 15 Year Fixed

Now offering HomeStyle Energy Mortgage!  This loan is designed for borrowers to make upgrades to reduce utility costs and improve the comfort and safety of their homes with protective improvements. May be used for upgrades to energy and water systems including solar, property improvements for better resilience to natural disasters, new windows and doors, and to pay off other energy-related debt.​


  • $500 credit to borrower at closing
  • Max LTV (1-unit owner occupied) up to 97%
  • Energy Related Financed Improvements
    • Up to 15% of “as completed” appraised property value
  • All 1-4 unit existing properties
  • All occupancy types permitted
  • Can be used to pay off other energy related financing
  • Max DTI per DU



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