They do! It’s called the Fannie Mae HomeStyle Renovation program.
How it works…
At closing all funds for renovation will be escrowed in an interest earning account.
After all renovation work is complete, any remaining funds in the renovation escrow account will be used to pay down the principal balance of the mortgage.
Soft costs such as architectural services, engineering and permit fees may be financed.
Max loan to value ratio for owner occpuied = 95%.
If you want to purchase a home, but want to make some changes right away this loan might be a good vehicle for you!
That’s it for today!
I hope you have a great day! Thanks for reading!
Brett
One of the most important things you will have to do when you apply for…
I wanted to let you know we have a 2% to 5% downpayment and closing…
If you want to acquire rental properties, but you are having issues proving your income…
Do you need cash out of your home, but you don’t want to refinance the…
In the mortgage world there are rules we have to follow. Such as, rules about…
Do you have investment property, and would like to pull cash out of your property?…
