You choose contractors; the lender verifies licensing, insurance, and bids. No HUD consultant required for HomeStyle® renovation loans.
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You choose the contractor(s). HomeStyle requires one general contractor (plus specialty trades as needed). The lender reviews licensing, insurance, and line-item bids — a renovation consultant is required only in Alaska, California, Hawaii, and New York.
HomeStyle does not assign a contractor for you. Collect bids from licensed, insured pros whose scopes match the renovations you want financed. The lender then confirms credentials and that costs support the after-improved value.
Unlike FHA Standard 203(k), there is no HUD consultant in most states. A renovation consultant is required only in Alaska, California, Hawaii, and New York. One general contractor coordinates the project, with specialty subs as needed — plans, permits, and contingency still apply on larger scopes.
Ryan and Steve review bid packages early so weak insurance, vague line items, or unlicensed vendors do not stall underwriting after you are under contract.
Related contractor and renovation guides.
Share licenses, insurance, and line-item scopes — Ryan & Steve will confirm what underwriting needs before you lock a HomeStyle purchase or refinance.
HomeStyle is a registered trademark of Fannie Mae. All loans are subject to credit and property approval. Program guidelines, 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.