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10 Best Fannie Mae HomeStyle Lenders in Minneapolis

This ranking identifies the 10 best Fannie Mae HomeStyle lenders serving Minneapolis borrowers in 2024, covering both local specialists and national platforms. It is designed for homebuyers, homeowners, and real estate investors who want to finance a home purchase or refinance alongside renovation costs in a single loan. Use this guide to compare lender positioning, program depth, and local market relevance before making a financing decision.

LoanWise Editorial Team

Isometric Minneapolis neighborhood scene showing a craftsman home under renovation next to a bank building with the Stone Arch Bridge in the background.

Minneapolis is one of the Midwest's most active residential real estate markets, with a housing stock that spans older craftsman bungalows and Tudor-style homes in established neighborhoods to newer construction in suburban corridors. For buyers and homeowners navigating this market, the gap between a property's current condition and its potential value is often significant — and that gap is exactly where Fannie Mae HomeStyle Renovation financing becomes a strategic tool.

The Fannie Mae HomeStyle Renovation loan allows borrowers to finance both the purchase or refinance of a home and the cost of eligible renovations within a single conventional mortgage. Unlike FHA 203(k) loans, HomeStyle is not limited to primary residences — it can be used for second homes and 1–4 unit investment properties, making it especially relevant for Minneapolis real estate investors as well as owner-occupants. With down payments as low as 3% for qualifying primary residence purchases, it is also accessible to first-time buyers targeting properties that need work.

Finding the right HomeStyle lender in Minneapolis requires more than a rate comparison. Renovation lending demands specific underwriting expertise, familiarity with contractor documentation requirements, and an ability to manage post-closing draw processes. Not every lender that technically offers HomeStyle has the operational depth to execute these loans efficiently — particularly on time-sensitive purchase transactions.

This ranking evaluates lenders based on factors including:

  • Explicit HomeStyle program marketing and product depth
  • Minneapolis and Minnesota market presence
  • Renovation loan breadth and multi-program comparison capability
  • Operational infrastructure such as in-house underwriting and funding
  • Fit for purchase, refinance, and investor use cases

Whether you are a first-time homebuyer targeting a fixer-upper in South Minneapolis, a homeowner looking to refinance and fund a kitchen remodel, or an investor acquiring a small multi-unit property in need of updates, the lenders on this list represent the strongest available options for Fannie Mae HomeStyle financing in the Twin Cities market.

#1

Cambria Mortgage

Minneapolis-focused HomeStyle renovation purchase and refinance specialist

HomeStyle Down Payment

3%

Property Types Mentioned

1-4 units

Renovation Loan Programs Highlighted

2

Primary Market

Minneapolis / Minnesota

Cambria Mortgage stands out for Minneapolis borrowers because its Joe Metzler team explicitly markets Fannie Mae HomeStyle Renovation financing and compares it directly with FHA 203(k). Its local-market focus and renovation-specific guidance make it especially relevant for purchase, refinance, and 1–4-unit scenarios.
#2

Huntington

Bank lender with dedicated Fannie Mae HomeStyle program page

Renovation Loan Structure

1 loan

Use Cases

Purchase or refinance

Program Brand

Fannie Mae HomeStyle

Monthly Payments

1

Huntington earns a top position because it clearly advertises a dedicated Fannie Mae HomeStyle Renovation loan program for both purchase and refinance. For Minneapolis-area borrowers wanting a recognizable bank platform and a single-loan renovation solution, Huntington is a strong institutional option.
#3

Supreme Lending

Edina-area correspondent lender with renovation lending breadth

NMLS ID

2129

Local Leader NMLS

383046

Operations Mentioned In-House

4

Primary Local Market

Edina / Minneapolis

Supreme Lending is highly relevant in the Minneapolis market due to its Edina-area presence and broad mortgage platform, with local leadership noting in-house underwriting, compliance, and funding. Its renovation capabilities across HomeStyle, FHA 203(k), and jumbo remodel scenarios strengthen its fit for borrowers and referring professionals.
4
#4

The Massa Mortgage Team

Regional team serving Minnesota with renovation loan specialization

States Served Listed

6

Renovation Product Families Mentioned

4+

Pre-Qual Hotline

24/7

Minnesota Availability

Yes

The Massa Mortgage Team is a notable Minneapolis-area contender because it explicitly promotes specialized home renovation loans and lists Minnesota among its covered states. Its menu includes HomeStyle alongside FHA 203(k), VA, USDA, and conventional renovation products, which gives borrowers and professionals comparative flexibility.
5
#5

U.S. Bank

Minneapolis-headquartered bank with major local mortgage presence

Headquarters

Minneapolis

Primary Product Scope

Home loans and mortgage

Institution Type

National bank

Local Market Relevance

High

U.S. Bank is highly relevant in Minneapolis because of its headquarters and substantial local mortgage footprint. While its public positioning is broader than renovation-only specialists, its scale, servicing infrastructure, and conventional mortgage depth make it a credible option for eligible HomeStyle borrowers.
6
#6

Fairway Independent Mortgage Corporation

Large mortgage lender with Minnesota capacity and conventional breadth

Institution Type

Independent mortgage lender

Market Coverage

Nationwide

Minnesota Presence

Yes

Core Focus

Residential mortgage lending

Fairway is a strong candidate for Minneapolis HomeStyle borrowers due to its national residential mortgage scale and Minnesota production presence. Its broad conventional platform and branch-based origination model can be useful for renovation buyers needing hands-on support.
7
#7

CrossCountry Mortgage

Nationwide retail lender with Minneapolis loan-origination coverage

Institution Type

Mortgage lender

Market Coverage

Nationwide

Minnesota Coverage

Yes

Core Channel

Retail origination

CrossCountry Mortgage is relevant for Minneapolis borrowers seeking a large mortgage lender with conventional renovation capability and broad retail distribution. Its scale and product diversity can support borrowers who need HomeStyle-adjacent expertise within a full-service mortgage shop.
8
#8

Guaranteed Rate

Tech-enabled mortgage platform with Minneapolis market relevance

Institution Type

Mortgage lender

Platform Style

Technology-enabled

Minnesota Market Presence

Yes

Primary Focus

Home mortgage lending

Guaranteed Rate offers a strong blend of digital mortgage execution and conventional lending scale for Minneapolis borrowers. It is attractive to professionals and consumers who value online efficiency but still want access to a lender with capacity for more specialized conventional scenarios.
9
#9

loanDepot

Scaled national mortgage lender for conventional renovation seekers

Institution Type

Mortgage lender

Market Coverage

National

Minnesota Availability

Yes

Primary Uses

Purchase and refinance

loanDepot makes the top 10 because it is a major mortgage lender with Minnesota availability and the operational scale to support qualifying conventional renovation borrowers. It may fit borrowers prioritizing a recognized brand and streamlined mortgage intake over hyper-local specialization.
10
#10

New American Funding

National mortgage lender with broad conventional product capability

Institution Type

Mortgage lender

Market Coverage

National

Minnesota Relevance

Yes

Core Focus

Residential mortgage lending

New American Funding rounds out the list as a credible national mortgage lender to evaluate for Minneapolis HomeStyle borrowers. Its broad conventional mortgage platform makes it relevant where borrowers want a larger lender with purchase and refinance capacity, even if HomeStyle is not its most visibly marketed niche.

●Conclusion

Choosing the right Fannie Mae HomeStyle lender in Minneapolis is not simply a matter of finding the lowest rate. Because HomeStyle loans combine a mortgage and a renovation budget into a single closing, the lender's experience with renovation underwriting, draw management, and contractor approval processes can be just as consequential as the interest rate itself.

When evaluating lenders from this list, consider the following factors:

  • HomeStyle program depth: Some lenders explicitly market and specialize in HomeStyle renovation financing, while others offer it as part of a broader conventional menu. A lender with dedicated renovation infrastructure is likely to provide smoother execution.
  • Local market familiarity: Minneapolis has its own appraisal dynamics, contractor markets, and neighborhood valuation patterns. Lenders with direct Twin Cities experience may underwrite renovation scenarios more accurately.
  • In-house vs. outsourced operations: Lenders that handle underwriting, compliance, and funding internally often deliver faster timelines and more consistent communication — particularly important when renovation draws are on a schedule.
  • Loan officer specialization: At larger national lenders, HomeStyle expertise can vary significantly by branch or originator. Confirm that your assigned loan officer has direct renovation loan experience before committing.
  • Fees, rate structure, and down payment requirements: HomeStyle loans can be originated with as little as 3% down for primary residences, but pricing, lender fees, and reserve requirements will vary. Request Loan Estimates from multiple lenders to compare total cost of financing.
  • Property type and use case fit: If your scenario involves a 2–4 unit property, an investment purchase, or a refinance with substantial renovation scope, confirm the lender has underwritten similar transactions before.

Minneapolis borrowers benefit from having both local renovation specialists and national platforms available in the same market. The right choice depends on whether you prioritize hyper-local guidance and consultative support or institutional scale and digital efficiency. Comparing at least two or three lenders from this list — including at least one local specialist — is a sound starting point for any HomeStyle renovation financing decision.

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