HomeStyle Renovation Loan
Conventional loans are not insured by the FHA or VA. Generally, these are a good option if you have a higher credit score and stable employment history. Interest rates for conventional loans are usually some of the lowest. 
An easy and affordable way to pay for home renovations and repairs:
HomeStyle Renovation® can help you finance one or more renovation projects, pay for major repairs, or install a pool. This Fannie Mae program is available for new and existing homes – even new construction. The funds can be used for design updates or even renovating accessory units like garage apartments or guesthouses.
Key Features and Benefits:
You may qualify for renovation fund amounts from $5,000 up to 75% of your home's post-renovation value. 
Lower closing costs, since you’re closing a single transaction.
Several property types are allowed, including single-family homes, 2-4 unit properties, modular homes, second homes, and homes in Planned Unit Developments (PUDs).
Fixed- and adjustable-rate mortgage options.​