You CAN'T use a HomeStyle mortgage on these properties

November 4, 2017

Although you can do many things with a Fannie Mae HomeStyle Renovation loan there are units that will not be eligible for this type of project. 

 

The list of the ineligible properties include: 

 

- 2-4 unit investment properties

- Commercial properties

- Condotels

- Properties listed on a Historical Register

- Cooperatives

- Geodesic dome homes

- Geothermal homes

- manufactured housing

- Mobile Homes

- Non-warrantable condos

- Timeshares 

- Working farms, ranches, orchards

 

If the property doesn't fall into one of these categories it is eligible for renovation! 

 

 

 

 

 

 

 

 

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