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HomeStyle Renovation Loan from Peoples Bank

HomeStyle Renovation Loan

Turn your fixer-upper into your dream home.

The Fannie Mae HomeStyle Renovation program lets you buy a home or refinance an existing home and include funds for improvement or repairs in the new loan amount. The program provides a simple, flexible and affordable way for borrowers to make renovations, repairs or improvements. With a single-loan process, borrowers will enjoy saving time and money over more costly financing methods like credit cards or a home equity line of credit.

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  • Maximum loan amount $726,200 (may be higher in some counties).
  • May be primary, second home or investment property.
  • Multiple types of repairs or improvements allowed.
  • Up to 97% loan to value for purchase scenarios.
  • Upfront draws allowed up to 50% of material costs.
  • Manufactured home improvements allowed under certain criteria (renovations capped at lesser of $50,000 or 50% of the as-completed value).

The Peoples Bank Difference

Whether you’re in the market to buy your first home, dream home or vacation home, our goal is simple – let’s make it work.

There are countless reasons to choose Peoples Bank for your home loan – from local loan decisions and on-time closings to great rates and fair terms, but we think the best reasons are our people. Our best-in-the-business team of loan professionals is ready to assist you every step of the way.


Questions? We’re here to help!

Email us or call (800) 584-8859

Subject to credit approval. Available to non-owner and owner-occupied, single-family residences. Hazard insurance on the subject property is required. If the property is located in a Special Flood Hazard Area, we will require you to obtain flood insurance. Funds for renovation costs may be capped on certain property types.

Apply Online

Apply online with Express Mortgage powered by Peoples Bank. It’s easy and you’ll have a decision faster than you’d expect.

Apply Online

Find a Home Loan Specialist

Contact a home loan specialist today for information on rates and the type of loan best suited for your needs.

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Loan Calculator

Should I buy a home or rent? How much would my monthly payment be? Our mortgage calculators can help you decide.


Endless Possibilities

Here are some examples of what our clients have used renovation financing for:

  • Replacement of roof, siding, windows and gutters.
  • Adding or expanding bathrooms, kitchens or garages.
  • Major landscaping or site improvements.
  • Enhancing accessibility for disabled persons.
  • Finishing a basement, deck or patio.
  • Adding or repairing a swimming pool.
  • Constructing an auxiliary dwelling unit.

5 Star RatingPeoples Bank is rated 5-Stars by Bauer
Rating as of October 2023