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NEXTA
By Leesa Sandoval
The video you are about to watch was recently featured on REALTOR Magazine. It’s a great illustration of how you can take a foreclosed home and using one of our great rehab loans – FHA 203k or Fannie Mae HomeStyle Renovation Loan – turn it into the home of your dreams. Not only are these homes priced well but you will also find yourself in a great equity position.
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By Leesa Sandoval
The hot Texas summer is coming so wouldn’t it be nice to renovate your backyard? Maybe add a pool or an outdoor kitchen? Or maybe you are just in need of some landscaping. Regardless of your need the Fannie Mae HomeStyle Renovation loan is going to be the answer. By saying this of course I’m referring to a refinance of your current mortgage but if you are simply in the market for a new home the Fannie Mae HomeStyle Renovation loan can help as well.
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By Leesa Sandoval
This is a great illustration about how the FHA 203k Rehab loans are made and how they can be used to either purchase or renovate your dream home. Please keep in mind that while all the options mentioned in the video are available there are still certain minimum requirements to meet. All loans are available in Texas, Louisiana, Arkansas, New Mexico, and Oklahoma.
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By Leesa Sandoval
The FHA 203k loan was designed to render aid and help get these homes sold. The borrower can get just one mortgage loan, at a long-term fixed rate, to finance both the purchase and the rehabilitation of the property. To provide funds for the rehabilitation, the mortgage amount is based on the projected value of the property with the work completed, taking into account the cost of the work.
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By Leesa Sandoval
Short sales, foreclosures and new construction homes all have caveats that need to be considered when pursuing financing.
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By Leesa Sandoval
In the majority of cases, VA loans do not allow for money back at closing to cover home repairs. The one exception to this rule is in the case of energy-efficient home improvements.
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By Leesa Sandoval
As a listing agent what happens when you have a great foreclosure listing but the AC condenser goes missing? The seller doesn’t want to replace it because it will probably go missing again and they have already put enough money into the house being that it’s a foreclosure. The buyer doesn’t want to replace it until they own the home so…what are your options?
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By Leesa Sandoval
Fannie Mae offers a special program to utilize when purchasing one of their foreclosures. This program is called the Fannie Mae HomePath Renovation Loan. There is also a program simply named Fannie Mae HomePath for homes that need no renovations.
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By Leesa Sandoval
Another renovation loan has arrived in my arsenal to help get more foreclosures, short sells and homes that just need a little TLC sold. This newest product is the Fannie Mae HomeStyle Renovation Loan and it can be used on any property, not just ones owned by Fannie as the name might imply.
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By Leesa Sandoval
The foreclosure crisis has started to bring the FHA 203k Rehab loan back into the spotlight. Can you think of a better way to move your listing than to market them “as is” and suggest the buyer use a lender who can not only offer them a way to purchase the home but also a way to finance any mandatory or desired repairs?
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