With a GMFS HomeStyle Renovation Loan, You Can Buy a Fixer-Upper and Finance All the Repair Costs with One Loan

• 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
• Up to 97% LTV Owner Occupied | 90% LTV second homes
  (LTV based on lesser of “subject to” value or price of home plus cost of renovations)
  97% for 1st time home buyers or if existing mortgage is FNMA owned on refi.
  Otherwise, it’s 95% percent for 1 unit principal residences)
• Contractor of Choice must be prior approved by GMFS
• Gift Funds Allowed
• 1-4 Unit Properties
• Do-It-Yourself Option
• High Balance Eligible
• 30 & 15 Year Fixed

OTC-Construction-Flyer-2022

Contact your District Director for more information.