This Bulletin replaces Bulletin 14-09 issued February 10, 2014 in its entirety.

REMN Wholesale is pleased to announce the HomeStyle program is being enhanced to include 3-4 unit primary residence and 1-unit investment properties.  These enhancements are effective immediately.  Additionally, REMN Wholesale is providing further clarification of the HomeStyle requirements.

The HomeStyle program allows borrowers to purchase or refinance a property and include the repair/ renovation costs in the loan with a single loan closing.  Renovations must begin within 30 days of loan closing and be completed within 180 days.

Highlights of HomeStyle Renovation

  • Up to 50% of the as-completed value may be used for renovation/repair funds. Renovations/repairs must add value to the property and be permanently affixed.
  • Purchase and rate/term refinance transaction
  • Occupancy:
    –         1 – 4 unit primary residence owner-occupied
    –         1-unit second home
    –         1-unit investment
  • Conforming and high balance loan amounts.
  • SFR/PUDs (attached/detached) and condominiums (written approval from the HOA for renovations/repairs is required for condominiums)
  • Unfinished model home/new construction may be eligible on a case-by-case basis.
  • DU “Approve/Eligible” Finding required; no manual underwrites.
  • Minimum credit score per DU
  • Subordinate financing eligible
  • Fixed rate only
  • Maximum LTV/CLTV per the HomeStyle Renovation Program matrix
  • Borrowers who own more than 4 properties (financed or owned free and clear) are ineligible regardless of the occupancy type.

Fees for the HomeStyle Renovation program must be listed on the GFE as follows:

Fee Type

HUD Line

GFE Block

Draw Inspections ($200 per draw; enter total amount of all draws)


Block 3

HUD Consultant Fee


Block 6

Title Update ($100.00)


Block 4

Architect/Engineering Fee/Permit Fees (if applicable)


Block 6

The HomeStyle program guidelines have been updated with this information and posted on the REMN Wholesale website at

If you have any questions, please contact your Account Executive.