Selling Guide

Published December 16, 2020

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What are the borrower requirements for a HomeStyle Renovation loan?

Borrower Requirements

Borrowers must meet the requirements of B2-2-01, General Borrower Eligibility Requirements. Nonprofit investors and local government agencies may be considered for eligibility on a negotiated basis. Lenders may contact their Fannie Mae customer account team for more information.

To ensure that the borrower understands all of the terms of a HomeStyle Renovation mortgage, the lender may use Fannie Mae’s HomeStyle Renovation Consumer Tips (Form 1204), as a checklist for the key facts that need to be disclosed to the borrower, and the borrower’s signature will serve as an acknowledgment of his or her understanding of these facts.

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

Guide Resources

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Visit Selling and Servicing Guide Communications and Forms

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