Selling Guide

Published June 3, 2020

The Selling Guide is organized into parts that reflect how lenders generally categorize various aspects of their business relationship with Fannie Mae. To begin browsing, select from any of the sections below. You may also download the entire Selling Guide in PDF format.

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B8-5-03, HomeStyle Renovation Mortgage Documentation Requirements (06/05/2018)


This topic contains information on HomeStyle mortgage documentation requirements.

HomeStyle Mortgage Documentation Requirements

This section describes Fannie Mae’s requirements for security instruments, notes, riders, and addenda for HomeStyle Renovation mortgages. In addition, Fannie Mae has developed other model documents for use in connection with HomeStyle mortgages. Because these documents are model documents, they may need to be amended for certain types of lenders or particular types of transactions.

HomeStyle Mortgage

The mortgage or an appropriate rider to the security instrument (“renovation loan rider to security instrument” or “security instrument rider”) must

  • grant the lender a security interest in any personal property (including building materials) located in, or on, or used, or intended to be used, in connection with the work, and

  • provide that a borrower default under the renovation loan agreement must constitute a default under the security instrument and the note, and

  • grant the lender an assignment of rents as additional security for the loan and the right to appointment of a receiver of rents if the property is held for rental purposes.

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