Learn how HomeStyle® loan amounts are sized on after-improved value, LTV by occupancy, and conforming limits for purchase-plus-rehab.
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How Much Can I Borrow?
Your HomeStyle loan amount is driven by after-improved value, eligible renovation costs, occupancy LTV limits, and conforming loan caps — not just the listing price of a fixer-upper.
Unlike a standard purchase mortgage that stops at as-is value, HomeStyle lets the appraiser value the property as if renovations are complete. That projected value, combined with your down payment and LTV cap, sets the ceiling for purchase price plus rehab.
In practice, lenders use the lesser of after-improved value (times max LTV) or acquisition cost plus approved renovation costs. Overbidding on a distressed listing without appraisal support can shrink your rehab budget — or kill the deal.
Ryan and Steve run numbers against contractor bids before you write a rehab-heavy offer so the combined loan still fits conventional guidelines at Luminate Bank.
Exact Fannie Mae caps on after-improved value — your pre-approval confirms reserves and overlays.
Illustrative only — not a quote. Real numbers depend on appraisal, bids, credit, and current guidelines.
Related HomeStyle guides that affect how much you can finance.
Share the listing, rough rehab budget, and occupancy plan — Ryan & Steve will size purchase-plus-renovation against after-improved value.
HomeStyle is a registered trademark of Fannie Mae. All loans are subject to credit and property approval. Program guidelines, LTV limits, and pricing are subject to change without notice and may not be available in all areas. This website is not affiliated with or endorsed by Fannie Mae, HUD, or any government agency. Information is for educational purposes only and is not a commitment to lend.