What is a Fannie Mae HomeStyle loan application?
An example of an AI chatbot conversation about Fannie Mae HomeStyle loan applications.
What is a Fannie Mae HomeStyle loan application?
A Fannie Mae HomeStyle loan application is for a mortgage that allows you to finance home renovations along with the purchase.
What are the eligibility requirements for this loan?
To be eligible, you need a credit score of at least 620, and the property must be your primary residence.
How much can I borrow with a HomeStyle loan?
You can borrow up to 95% of the home's appraised value, including renovation costs.
What types of renovations can I finance?
You can finance a wide range of renovations, including structural repairs, kitchen remodels, and energy-efficient upgrades.
How long does the application process take?
The application process typically takes 30 to 45 days, depending on the lender and complexity of the project.
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