Tag Archive for: renovation loans

Save Renovation Loans For Refis; Rates In Election Years

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We have become experts at renovation loans, such as FHA’s 203k or Fannie Mae’s HomeStyle renovation loan. As a reminder, these are loans where plans and specs for improvements are submitted with the loan – so borrowers can garner additional funds (often in excess of the purchase price) to finance improvements.Read More

Unlock Your Home’s Potential with a USDA Renovation Loan

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A home renovation is an exciting opportunity to make your place look and function just the way you want. But, the cost of it all can feel a bit daunting. This is where the USDA Renovation Loan comes in handy, especially if you are looking to buy a home in a USDA-eligible rural area.Read More

Reshape Your Home with a VA Renovation Loan

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Embarking on the journey of renovating your home can stir a mix of emotions – the excitement of creating a new space, mingled with the financial considerations. This is where […]Read More

Renovate Your Home With Freddie Mac’s CHOICERenovation® Loan

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Embarking on a renovation journey often brings a blend of excitement and a bit of anxiety, especially when it comes to financing the project. Freddie Mac's CHOICERenovation® Loan is here to bridge the financial gap, making your dream home a reality.Read More

Renovate Your Home with Fannie Mae HomeStyle®

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Embarking on a home renovation journey is both thrilling and daunting. While the idea of transforming a space is exciting, the financial commitment can often feel overwhelming. This is where a home renovation loan steps in, and among the various options available, the Fannie Mae HomeStyle® Renovation Loan shines with its flexibility and inclusiveness. In this article, we'll break down all the details of the HomeStyle® program and guide you through its many advantages.Read More

What is an FHA 203k Loan?

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An FHA 203k loan is a government-backed renovation loan that allows a homebuyer to purchase or refinance a home and include the renovation costs in the same loan. This type of loan is a valuable option for those looking to buy a home that needs a little TLC or for homeowners wanting to make updates or improvements to their existing homes.Read More

How To Buy Fixer Upper Homes For Sale

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Have you ever considered fixer upper homes for sale? A fixer-upper is a property that requires some level of repair or renovation. The idea is to purchase the home at a lower price and then invest in making it your dream home.Read More

All The Loans Banks Don’t Have: Non-QM, No Income Verification, Rental Income Only, Bank Statement, Hard Money, & Renovation

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I am blogging about Non-QM and other unusual loan products again because a borrower came to us recently after being told by a commercial bank that there were no mortgage options for him because he lacked the required income verification – when the borrower in fact qualified for several viable non-QM loans, one of which he readily and happily accepted.Read More

How To Renovate with FHA 203(k) Mortgage Financing

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The FHA 203(k) loan, often referred to as the 203(k) rehab loan, is a mortgage program designed to help homebuyers purchase a property in need of repairs or renovations. This loan option allows you to borrow funds not only for the purchase price but also for the cost of improvements. Let's dive into the details of FHA 203(k) mortgage financing, its requirements, and the benefits it offers.Read More

How To Finance A Fixer-Upper

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Many homebuyers are interested in the possibility of purchasing a fixer-upper property. Fixer-uppers typically have competitively low sale prices that require renovations and repairs that can quickly add up. Below […]Read More

When Renovation (203k) Loans Are Not Practical

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Renovation loans, also known as “203k” or “Homestyle” loans, are an awesome resource for properties that are badly in need of major repairs or updating. These loans allow buyers to finance […]Read More