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
- Properties listed on a Historical Register
- Geodesic dome homes
- Geothermal homes
- manufactured housing
- Mobile Homes
- Non-warrantable condos
- Working farms, ranches, orchards
If the property doesn't fall into one of these categories it is eligible for renovation!