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Get Fannie Mae Form 1035 2018-2025

Rtgage. Borrower Name: Date: A. Loan Parameters Totals 1. % Applicable LTV 2. Renovation Costs Cannot Exceed 75% of: For purchase the lesser of: Purchase Price plus Renovation Costs or As Completed Appraised Value For refinance the As Completed appraised value For manufactured homes eligible renovation funds capped at the lesser of $50,000 or 50% of the as-completed appraised value 3. Primary Residence Secondary Residence Investment B. Property Information 1. Purcha.

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Repairs or improvements, however, must be permanently affixed to the real property. A HomeStyle Mortgage may not be used for complete tear down and reconstruction of the dwelling. Renovations greater than $35K require the use of a HUD consultant. Equal Housing Opportunity Lender.

With a HomeStyle loan, you can borrow up to 95% of a property's after renovation value up to Fannie Mae's maximum loan limit of $548,250 (or $822,375 in high-cost markets).

To qualify for a Fannie Mae's HomeStyle loan, a minimum credit score of 620 is required, and the maximum debt-to-income (DTI) ratio allowed is 45%. These criteria are stricter compared to the government-backed FHA 203(k) program, which only requires a FICO Score of 580.

The HomeStyle Renovation mortgage enables a borrower to purchase a property or refinance an existing loan and include funds in the loan amount to cover the costs of repairs, remodeling, renovations, or energy improvements to the property.

Income limits: This program has no income limits. Credit: The borrower's credit score influences the loan parameters.

With a HomeStyle loan, you can borrow up to 95% of a property's after renovation value up to Fannie Mae's maximum loan limit of $548,250 (or $822,375 in high-cost markets).

Unlike other renovation loans, such as FHA 203(k) loans, a conventional renovation loan allows for luxury renovation projects such as installing an in-ground pool or backyard BBQ. Your down payment could be as low as 3% of the total acquisition cost – perfect for renovation projects big and small.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232