HomeStyle Renovation Loan in Utah
Fannie Mae's HomeStyle program lets you finance home improvements directly into your mortgage — for primary residences, second homes, and investment properties.
What Is a HomeStyle Renovation Loan in Utah?
The HomeStyle renovation loan in Utah is a conventional mortgage program backed by Fannie Mae that allows you to roll the cost of home improvements directly into your mortgage. Whether you're buying a Utah home that needs work or refinancing to fund renovations on your current property, HomeStyle combines everything into one loan — making it one of the top home renovation loans in Utah.
Unlike FHA renovation programs, the HomeStyle renovation loan is not limited to owner-occupied homes. You can use it for second homes and investment properties as well — making it one of the most flexible renovation loan options available to Utah homeowners and investors.
Key Features
Not Just Owner-Occupied
Available for primary residences, second homes, and investment properties.
95% LTV
Finance up to 95% of the as-completed value for purchases and refinances.
No Minimum Repair Amount
No floor on renovation costs — small updates and major overhauls both qualify.
Up to 75% of Value
Repairs can total up to 75% of the as-completed appraised value of the property.
HomeStyle vs. FHA 203k Comparison
| Feature | HomeStyle | FHA 203k Standard | FHA 203k Streamline |
|---|---|---|---|
| Backing | Conventional (Fannie Mae) | FHA-backed | FHA-backed |
| Max LTV | 95% | 96.5% | 96.5% |
| Property Types | Owner, second home, investment | Owner-occupied only | Owner-occupied only |
| Minimum Repairs | No minimum | $5,000 | No minimum |
| Maximum Repairs | 75% of as-completed value | No max (110% of appraised value) | $35,000 |
| Eligible Repairs | Any value-adding improvement | Structural + health/safety | Basic repairs only |
| Contractors | 1 general contractor | 1 general contractor | Up to 3 contractors |
| Draws | 1–5 draws | 1–5 draws | 2 draws per contractor |
| Escrowed Payments | Up to 6 months | Up to 6 months | Not allowed |
Eligible Improvements
The HomeStyle program covers any permanently affixed improvement that adds value to the property. There are no restrictions on repair types — if it's attached to the home and increases its value, it likely qualifies.
Explore Related Utah Loan Programs
Not sure if a HomeStyle renovation loan is the right fit? Compare these other home renovation loans in Utah to find the best option for your project:
Finance Your Renovation
Whether it's a primary home, vacation property, or investment — we'll help you find the right renovation loan.
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