Selling Guide

Published December 16, 2020

For best results, pose your search like a question.

Guide Resources

For a comprehensive list of resources such as forms, announcements, lender letters, notices and more.

Visit Selling and Servicing Guide Communications and Forms

Customers Recommend Ask Poli

AskPoli

If you have additional questions, Fannie Mae customers can visit Ask Poli to get information from other Fannie Mae published sources.

Launch Ask Poli  

Download PDF Guide

You can also download the printable 1,200+ page PDF, which include links.

Download Now

What property types are allowed under HomeStyle Renovation?

Property Requirements

The security property for a HomeStyle Renovation mortgage must be

  • a one- to four-unit principal residence;
  • a one-unit second home;
  • a one-unit investment property;
  • a manufactured home; or
  • a unit in an eligible PUD, condo, or co-op project.

When the security property is a unit in a condo or co-op project, the proposed renovation work must be permissible under the bylaws of the HOA or co-op corporation, or the HOA or co-op corporation must have given written approval for the renovation work. The renovation work for a condo or co-op unit must be limited to the interior of the unit, including the installation of fire walls in the attic.

The renovation of manufactured homes is allowed under HomeStyle Renovation provided the improvements do not include structural changes (such as adding a garage or other attached element). Eligible, non-structural improvements include, but are not limited to

  • improvements to kitchens and bathrooms;
  • installing energy efficiency heating and cooling systems;
  • changes to address mobility and aging in place requirements; and
  • installation of new windows, doors, siding, or roofing provided these changes do not alter the structure of the unit.

For additional information, see B5-3.2-02, HomeStyle Renovation Mortgages: Loan and Borrower Eligibility.

Have You Tried Ask Poli?

Poli knows. Just ask.

Ask Poli features exclusive Q&As and
more—plus official Selling & Servicing
Guide
content.

Try Ask Poli

Related Articles


AskPoli

Customers Recommend Ask Poli

If you have additional questions, Fannie Mae customers can visit Ask Poli to get information from other Fannie Mae published sources.

Guide Resources

For a comprehensive list of resources such as access forms, announcements, lender letters, notices and more.

Visit Selling and Servicing Guide Communications and Forms

X
Having Issues with Seeing this Page Correctly?

Use Firefox or Chrome   How to do a hard refresh in Internet Explorer
We recommend that you use the latest version of FireFox or Chrome.

Download Firefox
Download Chrome
  A hard refresh will clear the browsers cache for a specific page and force the most recent version of a page.
    Hold the Ctrl key and press the F5 key.
     

Email Us
If you still have Technical Support questions, feel free to emailAsk_Poli@fanniemae.com.