The HomeStyle® Renovation Loan programs are used on conventional loans for repairs that are both required by the appraiser or desired by the borrower. Whether structural or cosmetic, the repairs must be attached to the property and be determined to add value to the home. Appliances can only be included within the Renovation Loan amount when they are a part of a full kitchen remodel.
For example, a dishwasher and stove could be included as long as kitchen countertops and cabinets are also being remodeled. The HomeStyle® Renovation Loan program can also be used on second home and investment properties. *HomeStyle® is a registered trademark of Fannie Mae.