A Homestyle Loan is Fannie Mae’s Version of a Construction Loan

A Homestyle loan is a great option if you’ve thinking about new construction. It has flexible downpayment requirements. It can be used on a purchase and a great way to finance improvements, renovations and repairs. It can go up to 50% of the as-completed appraised value. Its an excellent alternative to a home equity line of credit or second loan. Also, it can be used on a refinance as well.