HomeReady® HomeStyle® finances 1-unit primary residences — including eligible manufactured homes (multiwide) and PUDs — when HomeReady eligibility rules are met. Second homes, investment properties, and 2–4 unit properties are not eligible under this combo.
The property must be financeable under HomeReady before renovation escrow is added. That means a 1-unit primary residence that clears conventional project and manufactured-housing review when applicable.
Condition can be rough — roofs, systems, kitchens, structural work, and even swimming pools can roll into the loan — but the after-improved appraisal and repair caps (75% standard / 50% manufactured) must support the total loan amount.
Ryan and Steve screen the address for HomeReady eligibility, manufactured-home foundation rules, and rehab feasibility before you go under contract on a distressed listing.
HomeReady rules narrow the property set compared with standard HomeStyle.
Stand-alone 1-unit homes on owned land — the most straightforward HomeReady HomeStyle file when you will occupy as primary.
Eligible when the project meets HomeReady and Fannie Mae review. We verify HOA and project status before you offer.
1-unit multiwide on a permanent foundation meeting MH guidelines. Renovation budget capped at 50% of as-completed value.
Duplexes, triplexes, fourplexes, second homes, and investment properties — use standard HomeStyle or FHA 203(k) instead.
| Feature | HomeReady HomeStyle | Standard HomeStyle |
|---|---|---|
| Units | 1-unit only | 1–4 unit primary possible |
| Occupancy | Primary only | Primary, second, investment |
| Max LTV (primary) | 97% | 95% standard / 97% HomeReady |
| Income limits | ~80% AMI | None (unless HomeReady) |
| Manufactured repair cap | 50% of as-completed value | 50% of as-completed value |
Related HomeReady HomeStyle guides and broader property options.
Structural work, kitchens, baths, pools, and more.
Purchase plus rehab in one conventional mortgage.
AMI, DU, and occupancy rules that pair with property type.
Broader HomeStyle property types including 2–4 units and investment.
Standalone HomeReady property eligibility.
Full guidelines, calculator, and all 20 guides.
No under this combo. HomeReady® HomeStyle® is limited to 1-unit primary residences (plus eligible manufactured homes and PUDs). For multi-unit rehab, compare standard HomeStyle or FHA 203(k) when guidelines allow.
Yes — 1-unit multiwide manufactured homes on permanent foundations that meet HomeReady and Fannie Mae manufactured-housing guidelines. Renovation costs are capped at 50% of the as-completed appraised value.
Not with HomeReady HomeStyle. This combo is primary residence only. Standard HomeStyle can cover second homes and investment properties when you meet higher LTV and reserve rules.
Yes when HomeReady eligibility rules are met and the project is conventional-financeable. We verify project status early so HOA issues do not stall your rehab escrow.
Ryan & Steve verify 1-unit primary eligibility, manufactured-home rules, and rehab caps before you write the offer.
HomeReady and HomeStyle are registered trademarks of Fannie Mae. All loans are subject to credit and property approval. Program guidelines, income limits, LTV limits, and pricing are subject to change without notice and may not be available in all areas. This website is not affiliated with or endorsed by Fannie Mae, HUD, or any government agency. Information is for educational purposes only and is not a commitment to lend.