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NEXTA
Did You Know? FHA 203k Renovation Loan Power!
By Leesa Sandoval
Did You Know? FHA 203k Renovation Loan Power! There are many advantages to the FHA 203k Renovation loan in Texas. Let’s review some of the most often asked questions and see if you knew it was possible… Number #1 most often asked question is…Can foundation work be rolled into an FHA 203k Renovation loan? YES!
Read More4 Reason Why Renovation Mortgage Loans Work!
By Leesa Sandoval
Renovation Mortgage Loans such as the FHA 203k and the Fannie Mae HomeStyle are so exciting that we just can’t keep some of the recent projects to ourselves. It’s been a busy April and we just had to share some success stories. The possibilities are endless and with some vision as well as one of these great loans a lot is possible!
Read MoreRenovation Mortgage Loans Are Rocking Early in 2014
By Leesa Sandoval
Renovation mortgage loans are really taking off early in 2014. People are seriously realizing how valuable renovation loans are when it comes to purchasing and renovating a property. Renovation loans such as the Fannie Mae HomeStyle and the FHA 203k allow for so much…check out some recent projects that are kicking off and stay tuned for “after pictures.”
Read MoreWhat’s Great About the FHA 203k Renovation loan?
By Leesa Sandoval
What’s great about the FHA 203k Renovation loan? Well I could talk for hours about it but why not hear from a recent client of ours that closed on an FHA 203k Renovation loan as a refinance. Let me set the scene for you…We got their call one afternoon after their current contractor walked off
Read More4 Loans That Closed With The Help of A Renovation Loan in Texas
By Leesa Sandoval
Sometimes it takes a village to close a loan but other times it just takes a qualified loan officer and a great Renovation Loan such as the FHA 203k or the Fannie Mae HomeStyle loan. Here are some recent examples of how the FHA 203k or the Fannie Mae HomeStyle Renovation loan saved the day!
Read More203k Contractors in Texas
By Leesa Sandoval
In Texas there are no licensing requirements for a general contractor. Most of the 203k rehab projects have general contractors that run the project and most often will have sub-contractors that work for them. The sub-contractors that do perform work that require a license are: plumbers, electricians and AC contractors. The license is required to pull a permit but we must also be able to verify the license before final approval can be issued.
Read MoreTrue or False: The FHA 203k Renovation Loan in Texas is Just for HUD Foreclosures
By Leesa Sandoval
The FHA 203k Renovation loan along with its conventional counterpart, the Fannie Mae HomeStyle Renovation loan, can be used for any type of property. Furthermore either can be used for a purchase or a refinance. I think far too often these loans are associated with HUD or bank foreclosures since those homes tend to be the most distressed but that’s not always the case. This is especially true in today’s market due to the speed at which the inventory is going under contract.
Read MoreRenovation Lending: What Can It Do For You?
By Leesa Sandoval
The world of renovation lending isn’t a one size fits all type of business. Each loan is customized for each client’s individual needs. I wanted to take a moment to show you some examples and give you a brief overview of some of the loans that I offer.
Read MoreHow to Have A Successful FHA 203k Renovation Loan Closing
By Leesa Sandoval
I’ve heard so much chatter lately regarding FHA 203k renovation loans that I thought it was time I dispelled some of those rumors floating around. Especially those pertaining to whether or not these loans actually do close!
Read MoreDon’t Be Scared of Foreclosures or Homes in Need of Renovation!
By Leesa Sandoval
Current market conditions dictate that lenders are able to offer versatile lending programs to their customers. Specifically being able to offer renovation lending options is key. Almost 70% of America’s homes build before 1992 and the vast inventory of foreclosed properties are uninhabitable. This alone means that consumers will need options to be able to move into these homes. Coupled with that you, as the Realtor, need inventive ways to market, list and ultimately sell these homes.
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