HomeStyle Pool Program
Projects consisting of only a pool installation may follow the reduced requirements below.
- Reduced documentation and simplified process applicable when the project consists only of a pool, pool decking, and/or any fencing or netting immediately surrounding the pool. Materials draw available at closing lesser of $15,000 or 25% of the total project cost may be advanced at closing for material costs for items ordered and not yet paid for.
- Simplified bid requirements all work to be performed must be fully described, bids are not required to separate labor and material costs.
- Permits while permits must still be obtained and referenced, an itemized listing of all permits and their costs is not required.
- No holdback fund required will fund each draw in its entirety and not withhold 10% of the draw.
- 10% contingency reserve is required.
- A streamlined version of the Fannie Mae Homestyle® Program specifically for building a pool.
- Up to 95% LTV based on the lesser of subject-to appraised value or purchase price/refi costs + total cost of renovations.
- Primary and second homes only.
- Purchases or Refinances.
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