The Easiest Way to Afford the Home of Your Dreams

Dana George, The Motley Fool
·5-min read
The Easiest Way to Afford the Home of Your Dreams

Fannie Mae is a type of conventional loan backed by the U.S. government. Buyers must work with a licensed contractor and have a credit score of 620 or higher. While it's possible to use a Fannie Mae HomeStyle® renovation loan to make upgrades to a rental property, it's not as easy as it once was, and Fannie Mae carefully controls the number of investors it approves.