Fannie Mae HomeStyle Renovation – Small Remodels

October 18, 2017

A HUD consultant is utilized on most Fannie Mae HomeStyle Renovation Loans.  The HUD consultant oversees the entire process, from the initial bid, to the draws, and completion of the project.

 

However, for smaller projects under $20,000, that will be completed with a single draw, the project can actually be completed without the involvement of the HUD consultant. 

 

In these transactions, the appraiser will perform the single final inspection.

 

This is a great loan option because it allows a streamlined process for smaller remodel jobs.

 

 

 

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