HomeStyle Loans Dallas
Approved Dallas Lender
Dallas HomeStyle Mortgage
What is a HomeStyle Mortgage?
A HomeStyle Renovation Mortgage combines the financing for a home purchase or refinance with the financing for home improvement. Therefore, qualified borrowers can receive the necessary financing in one loan with a single closing versus two separate loans. The HomeStyle Renovation Mortgage offers eligible borrowers a convenient way to make home renovations, repairs or improvements without having to use a second mortgage, home equity line of credit or other costly financing process.
Who is eligible to receive a HomeStyle Renovation Mortgage?
Borrowers eligible to receive a HomeStyle Renovation Mortgage include:
- Individual home buyers
- Non-profit organizations
- Local government agencies
What does a HomeStyle Renovation Mortgage cover?
A HomeStyle Renovation Mortgage allows borrowers to make renovations, repairs, and improvements that total up to 50 percent of the as-completed value of the property. The financing can be used for any repairs or renovations that are permanently attached to the property and add value to the home.
What properties are considered eligible for HomeStyle financing?
The following properties are eligible for HomeStyle Renovation Mortgages:
- Single family homes (up to 4 units)
- Multi family homes (up to 4 units)
- Condos (up to 4 units)
Where can I find a HomeStyle Lender?
Team Candy Powered by New American Funding is a Fannie Mae-approved HomeStyle Mortgage lender. For information regarding Fannie Mae’s HomeStyle Renovation Mortgage program, contact our Dallas mortgage experts at (512) 524-8077.