Conventional Loan
For people in search of a basic loan.
Homestyle-Fannie Mae
Choice Renovation-Freddie Mac
Up to 95% of future Renovated appraised value
Property Type/Eligible Properties
- 1-4-unit primary residence
- Manufactured homes
- 1-unit second homes
- 1-unit investment property
- Units located in planned unit developments (PUDs), condominiums, cooperatives (if permitted under the Seller’s Purchase Documents) or leasehold estates are acceptable
Maximum LTV Ratios
- 1-unit primary: 95% M), FTHB if >95% HomeOne® only; 97% Home Possible® only
- 2-unit primary: 85% (FRM/ARM)
- 3- and 4-unit primary: 80% (FRM/ARM)
- 1-unit second home: 90% (FRM/ARM)
- 1-unit investment properties: 85% (FRM, 7/1, 10/1, 7/6-Month and, 10/6-Month ARMs)
- Manufactured home 95%/95%
*Depending on specific loan characteristics.