Fannie mae form 1202-2025

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For a single-family home, borrowers can take a loan amount up to $647,200. In high-cost metro areas, the mortgage limit is $970,800 for a single-family home. For a multifamily property, borrowers can borrow up to $1,244,850 for a four-unit property, or up to $1,803,000 in a high-cost area.
Fannie Mae's HomeStyle renovation mortgage is an all-in-one purchase loan and home improvement loan. It's a great option for buying a property that needs a little\u2014or a lot\u2014of work, whether you're buying a home to live in full time, part time or as an investment property.
Fannie Mae's standard approval is for the sale and/or servicing of single-family loans (excluding loans delivered under a negotiated contract). Seller/servicers must obtain special approval to sell and/or service certain loans with unique requirements.
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The Federal National Mortgage Association (FNMA), typically known as Fannie Mae, is a government-sponsored enterprise (GSE) founded in 1938 by Congress during the Great Depression as part of the New Deal.
The Fannie Mae HomeStyle Renovation loan is a government-backed mortgage that provides funds to remodel and repair a house. The loan can be in the form of a purchase mortgage or the refinance of a current mortgage with extra cash for improvements.
After renovations are complete, all funds remaining in this account, including any mortgage payment reserves, may be used to either: reduce the unpaid principal balance of the loan (unless they represent funds deposited separately by the borrower), or.
Simply refinance your current home loan with HomeBridge Financial Services using the Fannie Mae HomeStyle loan and include all the home improvements to better your lifestyle. You can build your custom swimming pool or add that patio and summer kitchen all in one single mortgage transaction.
FHA 203(k) loans are more lenient about the borrower's credit and more strict about the renovation work that can be done. Fannie Mae HomeStyle mortgages are more strict about the borrower's credit and more lenient about the renovation work that can be done.

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