Equal Housing Opportunity NMLS# 1835820

Licensed Loan Provider Of Michigan & Florida

Equal Housing Opportunity NMLS# 1835820

Licensed Loan Provider Of Michigan & Florida

Equal Housing Opportunity NMLS# 1835820

Licensed Loan Provider Of Michigan & Florida

Renovation Loans

Renovation loans give you the ability to buy a home in need of repairs that might have been out of budget otherwise. Add in the down payment requirements are minimal, and often you get decent interest rates, making it a desirable loan!

Renovation Loans

Renovation loans give you the ability to buy a home in need of repairs that might have been out of budget otherwise. Add in the down payment requirements are minimal, and often you get decent interest rates, making it a desirable loan!

203K/ Homestyle Renovation Loans enables you to finance improvements and renovations during a home purchase or refinance. This option is great for borrowers who want to put as little as the minimum down on an FHA loan, or minimum down on a Conventional loan, and include the costs of renovations.



Renovation loans are a great way to purchase that outdated foreclosure with little down. When buying a house that needs repair or modernization, homebuyers usually have to follow a complicated and costly process. The improvement loans often have relatively high-interest rates, short repayment terms, and a balloon payment.


However, 203(k) offers a solution that helps both borrowers and lenders, insuring a single, long term, fixed or adjustable-rate loan that covers both the acquisition and rehabilitation of a property. 203(k) insured loans save borrowers time and money. A few things 203k loans can help with are as follows:



  • structural alterations and reconstruction

  • modernization and improvements to the home's function

  • elimination of health and safety hazards

  • changes that improve appearance and eliminate obsolescence
      
  • reconditioning or replacing plumbing; installing a well and/or septic system

  • adding or replacing roofing, gutters, and downspouts

  • adding or replacing floors and/or floor treatments

  • major landscape work and site improvements
      
  • enhancing accessibility for a disabled person

  • making energy conservation improvements


HUD requires that properties financed under this program meet certain basic energy efficiency and structural standards.



A HomeStyle Loan is backed by Fannie Mae and available to owner-occupied homeowners. HomeStyle loans combine the purchase and rehab of a property together as a singleloan. HomeStyle Renovation can make the difference between a house and a dream home, or a house that’s desperately in need of repairs and a home that’s habitable.

 

Renovation Loans

Renovation loans give you the ability to buy a home in need of repairs that might have been out of budget otherwise. Add in the down payment requirements are minimal, and often you get decent interest rates, making it a desirable loan!

203K/ Homestyle Renovation Loans enables you to finance improvements and renovations during a home purchase or refinance. This option is great for borrowers who want to put as little as the minimum down on an FHA loan, or minimum down on a Conventional loan, and include the costs of renovations.



Renovation loans are a great way to purchase that outdated foreclosure with little down. When buying a house that needs repair or modernization, homebuyers usually have to follow a complicated and costly process. The improvement loans often have relatively high-interest rates, short repayment terms, and a balloon payment.


However, 203(k) offers a solution that helps both borrowers and lenders, insuring a single, long term, fixed or adjustable-rate loan that covers both the acquisition and rehabilitation of a property. 203(k) insured loans save borrowers time and money. A few things 203k loans can help with are as follows:



  • structural alterations and reconstruction
  • modernization and improvements to the home's function
  • elimination of health and safety hazards
  • changes that improve appearance and eliminate obsolescence
  • reconditioning or replacing plumbing; installing a well and/or septic system
  • adding or replacing roofing, gutters, and downspouts
  • adding or replacing floors and/or floor treatments
  • major landscape work and site improvements
  • enhancing accessibility for a disabled person
  • making energy conservation improvements


HUD requires that properties financed under this program meet certain basic energy efficiency and structural standards.



A HomeStyle Loan is backed by Fannie Mae and available to owner-occupied homeowners. HomeStyle loans combine the purchase and rehab of a property together as a singleloan. HomeStyle Renovation can make the difference between a house and a dream home, or a house that’s desperately in need of repairs and a home that’s habitable.

 

Receive Your Free Renovation Loan Quote!

View Details
Sold Out