Washington State Mortgages, Made Clear. Buying or Refinancing? Let's find the right loan together.
UPDATE: Be sure to check out our up-to-date guide on Renovation Mortgages for your next home remodel!
Fannie Mae’s HomeStyle Renovation Mortgage allows for higher loan to value (low down payment). Loan amounts over 80% loan-to-value will have private mortgage insurance that will eventually drop off the mortgage. [Read more…]
The HomeStyle mortgage is Fannie Mae’s version of an FHA 203k rehab mortgage. Fannie Mae HomeStyle allows home buyers to finance improvements and/or repairs with their purchase or with a refinance. This allows home owners to have just one mortgage payment while enjoying upgrades made to their home.
Just like a 203k loan, HomeStyle requires that you work with a consultant to determine what repairs will be required and help advise on improvements. If you’re buying a home and using HomeStyle for your financing, the consultant’s report may also serve as your home inspector.
A Step-by-Step Guide for Washington Homebuyers (Updated for 2026)If you’ve found a home that needs work — outdated kitchen, worn roof, cosmetic issues, or more significant repairs — you may be wondering:
“Can I finance the purchase and the renovation together?”
In many cases, the answer is yes — through an FHA 203(k) rehabilitation loan, a program insured by the Federal Housing Administration.
An FHA 203(k) loan allows you to purchase (or refinance) a home and finance eligible repairs into one mortgage.
But where do you actually start?
Here’s a clear, practical breakdown. [Read more…]
Please visit my updated Renovation Mortgage Guide for homes located in Washington state.
Some of my Seattle area clients have been searching for the “just right” home for months. With a good portion of the available inventory being bank owned, many of the homes have been left in less than desirable condition or perhaps are overdue for a little TLC. If you’ve found a home that needs some work that’s located in a neighborhood you’d like to call home, an FHA 203k rehab loan may be worth your consideration. [Read more…]
