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Eight Expenses Covered by HomeStyle Loans from Fannie Mae

With a HomeStyle Renovation loan, you can make many different changes to your property. Commonly, homebuyers need to make essential structural changes that impact the physical quality of the home, such as foundation repairs, re-roofing, or new gutters. However, buyers can also make aesthetic changes, such as new cabinets, hardwood flooring, or a complete bathroom remodel.

Not only can you complete many different projects, there are numerous expenses covered by HomeStyle loans. By this, we mean that various aspects of the purchase and renovation can be financed. From contractors to home designers, you can pay for a wide variety of expenses, allowing you to create the wonderful home you have always desired!

For information on the basics of HomeStyle Renovation loans, please see our explanation article or contact our staff.

8 Renovation Expenses Covered by HomeStyle Loans


To complete your renovation, you will likely need to pay for labor, which can take many forms. Unless you plan on completing the project entirely on your own, you can expect to pay for labor. Even if you are completing some of the work, there will likely be aspects that require the services of a specialized professional. Electrical, for example, should be completed only by those who are properly trained.


In addition to labor, you will also need to pay for a variety of materials, which can include the “bones” of the renovation, such as 2x4s, flashing, sheetrock, nails, screws, and plywood, as well as the decorative materials, such as granite countertops, tile flooring, and custom cabinet doors.

In many ways, this is the one area where you have the most options, at least for the visual materials. For example, there are many different flooring options to choose from, so you can go with a budget material, high-end appointments, or something in between.


One of the most basic, and likely the most common use for funding through the HomeStyle Renovation program is the payment of contractors. Various contractors can be paid throughout your renovation, and this can include highly specialized professionals, such as decorative-brick layers, or general contractors who perform drywalling, framing, demolition, and other basic services.


Throughout the purchase, remodel, and move-in process, numerous inspections may be required, many of which can be funded by the HomeStyle program. Numerous inspections may be recommended depending on the age and status of the house. From electrical changes to termite, mold, and pest inspections, you need to thoroughly analyze a home before moving in.

These inspections are highly recommended, and, while most are completed before the purchase, you could use funding through this program to pay for post-purchase inspections. You may want to check the heating and air conditioning system, inspect the roof, test the soil stability, or even hire an arborist to inspect the trees, shrubs, and bushes.


Many people assume that architects are for new construction only, but these highly-trained professionals can be useful for refining and revising an existing structure. Architects are trained in building design, engineering, and ergonomics, allowing them to make expert recommendations based on your input.

With an architect, you can settle on a design or layout, then have the professional create simple floor plans or thorough blueprints, which can eventually be used by various workers during remodeling. Generally, the bigger the remodeling project, the more beneficial it will be to have an architect on your team. While they may not actually complete the project, architects are extremely valuable when it comes to adding visual appeal to a remodeling project, ensuring the completed project complements the rest of the home.

Interior Designers

Interior designers can create a plan that enhances your enjoyment of an existing space.

While many have training in architecture, designers, especially interior designers, serve a different purpose in the renovation process. Although the differences are a bit more complicated, architect generally design a new space to be built, while designers work within an already existing space.

With a designer, you can improve a home by adding the right features, fixtures, and furniture to get the most from a home. One common task of a designer is to help their client get more space or use from an existing home, which can be done through the correct use of furnishings and organization. Spacial skills are important to a designer, and the biggest skills is their ability to maximize the use of an existing space, which can help you get the most from your newly-purchased property; instead of completing a large remodeling project, a designer may recommend simple changes that enhance the space with less hassle and less funding.


Many projects, especially large renovations, will require the services of a structural engineer. While architects and designers blend the requirements of a home with aesthetics and visual appeal, an engineer is really concerned with one element: the safety and structural integrity of a home.

If you are removing a wall, you will likely need the services of a structural engineer. They can look at your proposed design and analyze the home to ensure your property can actually withstand the changes that will be made. They will make sure your home can support the changes, and may recommend the use of beams or support columns to ensure the renovation will not harm the structural integrity of the house.

Permit Fees

You can use the HomeStyle Renovation program to pay the fees that required for many projects. Depending on the nature of your renovations, you may need to pay for a variety of permits, including permits for new kitchens, home additions, foundational repairs, and electrical work.

What does and doesn’t require a permit can be complicated and often depends on your local area. For example, replacing the windows likely won’t call for a permit, but cutting a hole to add a new window will likely will.

Learn More About HomeStyle Renovation Loans from Fannie Mae

As you can see, the HomeStyle Renovation program allows you to finance many different aspects of the purchase and renovation process. If you want to learn more about the program, contact San Diego Purchase Loans today.


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Chad Baker, CrossCountry Mortgage   
NMLS# 329451 | CCM NMLS# 3029