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NEXTA
Fannie Mae HomePath Mortgage Loan: The Good, The Bad, The Ugly
By Leesa Sandoval
Considering purchasing a foreclosed property? Let’s take this a step farther and say this property is a Fannie Mae foreclosure. Well if that turns out to be the case than you would be crazy not to participate in a Fannie Mae HomePath mortgage. Why you ask? For starters, unless you are renovating the home, no appraisal is required.
Read More203k Loan on Steroids: Off and Running, This Housing Market is Hot
By Leesa Sandoval
What a difference six months can make to our industry! I used to say “consider a renovation loan if move-in ready perfection is not in your clients budget.” Fast forward six months and what I am saying now is …”if that perfect home has multiple offers you might need to consider counseling on utilizing a renovation mortgage loan.”
Read MoreHomeStyle Renovation Loan: Great for the Upcoming Summer Months
By Leesa Sandoval
Summer is just around the corner so now is the time to start thinking about ways to keep cool. One great way to do this is to add or repair your existing pool. How can this be accomplished in a very cost effective way? The answer, use the Fannie Mae HomeStyle Renovation loan. This is a great loan for a current homeowner looking to do some luxury backyard upgrades or maybe for your new home that you are considering purchasing.
Read MoreWhy Buy New When You Can Renovate?
By Leesa Sandoval
With the amount of homes on the market listed for sale, instead of starting from scratch and building new, why not buy an existing home “as is” and renovate to fit your specific taste? Find a house with some great bones, in a neighborhood you love and renovate that house to be your dream home.
Read MoreIt’s Time to Get on the FHA 203k Rehab Bank Wagon
By Leesa Sandoval
The use of FHA 203k loans are up 28% from 2010 to 2011 so…how would you like to increase your business by 28 % this year? With that type of increase in 2011, 2012 is sure to be buzzing about the FHA 203k rehab loan. This could be just the ticket you will need to get some listings sold or pick up some more buyers!!
Read MoreHow the FHA 203k Rehab Loan Can Help A Home Sell
By Leesa Sandoval
Listing a home for sale that isn’t quite move-in ready doesn’t have to be an impossible task. In fact, it could be advantageous to you to have a home that needs some repairs simply because now you can offer a potential buyer a chance to customize a home to their liking prior to moving in. How is this possible you ask? The FHA 203k renovation loan is the answer!
Read MoreFoundation Repair and the FHA 203k Rehab Loan
By Leesa Sandoval
If you are shopping for a new home and feel that foundation issues could be a deal breaker it might be time to think again. Especially for those of us in Texas since foundation issues seem to be on everyone’s mind. Don’t let that perfect house slip away just because of a foundation issue – the FHA 203k loan DOES allow for foundation work. In fact, it’s a common misconception that foundation repair is not allowed. That’s simply not true!
Read MoreFHA 203k Rehab Loan vs. Fannie Mae’s HomeStyle Rehab Loan
By Leesa Sandoval
There are actually a few options out available when it comes to rehabbing your home – for both purchase and refinance transactions. One of the challenges can be to find that perfect rehab loan to fit your needs. It’s my goal to make that selection easier. Today, I’d like to compare and contrast two of my favorites: The FHA 203k Rehab loan vs the Fannie Mae HomeStyle Rehab loan.
Read MoreRefinancing into a Rehab Loan for Home Repairs and Improvements
By Leesa Sandoval
Current home owners, did you know that just about anything in your home can be repaired, upgraded, etc with a simple rehab refinance? There are refinance options for both conventional and FHA loans which allow for the rehab of your current home.
Read MoreFannie Mae HomeStyle Rehab – High Balance
By Leesa Sandoval
By now you are probably familiar with the FHA 203k Rehab loan but did you know that Fannie Mae offers a rehab loan which may allow for more flexibility? The Fannie Mae HomeStyle Rehab loan allows for the installation/repair of luxury items as well as High Balance Loans – you are not limited to $417,000.00. In many cases we can finance up to $800,000.00 but the limits will vary from county to county. You may click here to review the county loan limits.
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