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FNMA HomeStyle | How It Works

A Step-by-Step to Finding, Purchasing and Renovating a Home

 

Pre-Approval

Apply for a mortgage with your REMN Loan Originator. We will review your application and loan documents to pre-approve you for a maximum loan amount and determine the best loan program to fit your needs.

 

Find Your Home

Look for a home that you can customize to become your dream home. The contract between you and the seller will be just for the purchase price. It will not include the funds to be used for your home improvements. Your Realtor will forward the accepted contract to your Loan Originator to finalize the financing.

 

Choose a Contractor

You must research and select a contractor to complete your improvements after the loan closes. Contractors must provide specific documentation to be accepted for use in the renovation program. 

 

Purchase Your Home

REMN processes, underwrites and closes your loan in-house. You will go to settlement on your new home with an Escrow account established to complete your home improvement project.

 

Renovations Complete

Once your loan closes, your personal REMN Renovation Concierge Manager will work with you and your contractor. This Manager will monitor the renovation process and distribution of funds, and is available to answer all of your questions. Most customers have this process completed within 60 days of closing (smaller projects can be completed in less than 30 days).

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