• 5% minimum down payment requirement for primary purchases
  • 1-unit investment properties and second homes allowed
  • 15% minimum downpayment for investment properties
  • 10% minimum downpayment for second homes
  • Costs such as architectural services, engineering and permit fees can be included
  • Conforming and high-balance loan limits
  • Fixed-rate only
  • Maximum renovation amount is 50%of the as-completed appraised value*

For HomeStyle® purchase transactions the maximum loan amount is based on the lesser of the sales price + renovation costs or 100% of the as-completed value, times the maximum loan-to-value allowable. For refinance transactions the maximum loan amount is based on the lesser of 1) 100% of the as-completed value times the maximum loan-to-value or 2) the balance on the existing loan plus the renovation cost plus the costs. The maximum repair amount is limited to 50% of the as-completed value. HomeStyle® is a registered trademark of Fannie Mae.