First-Time Buyers: Transform a Fixer-Upper with a HomeStyle® Renovation Loan

The Homestyle Renovation loan can you help your turn a fixer-upper into your dream home.

Thinking about buying your first home, but struggling to find the perfect move-in ready property within your budget? The HomeStyle® Renovation loan might be your ideal solution.

In today’s tight housing market, many first-time buyers are turning to homes that need a little TLC. The Fannie Mae HomeStyle® Renovation loan makes it possible to purchase and renovate a property with a single mortgage—allowing you to create the home you want without the hassle of separate financing.

Why First-Time Buyers Love the HomeStyle® Renovation Loan

The HomeStyle loan combines the purchase price and renovation costs into one loan, which means you can finance updates like new flooring, a kitchen remodel, or even an addition—all right from the start. This is a major win for first-time buyers who want to customize a home without dipping into savings for renovations after closing.

Key benefits include:

• One loan, one closing for both purchase and renovation

• Competitive interest rates compared to other renovation options

• Use for primary residences, including 1- to 4-unit homes

• Borrow up to 97% of the after-renovation value can be financed for improvements

• Add value and equity to your home right away

Flexible Improvements for Real-World Needs

Whether you need to fix a leaky roof, upgrade outdated bathrooms, or make energy-efficient upgrades, the HomeStyle loan gives first-time buyers flexibility to create a home that works for their lifestyle. It even allows for luxury upgrades like pools or outdoor kitchens—something many other renovation loans won’t cover.

A Smart Step Into Homeownership

If you’re struggling to find a move-in ready home within your price range, don’t overlook the potential of a home that needs updating. With the HomeStyle Renovation loan, you can finance your vision and start building equity from day one.

Let’s talk about how a renovation loan can help you find (or create) your perfect first home.