{"id":18059,"date":"2011-02-17T22:13:48","date_gmt":"2011-02-17T22:13:48","guid":{"rendered":"http:\/\/203krehabnow.com\/?p=18059"},"modified":"2011-02-17T22:13:48","modified_gmt":"2011-02-17T22:13:48","slug":"what-is-a-homestyle-renovation-loan","status":"publish","type":"post","link":"https:\/\/dev203k.orbitwebx.com\/dev203k\/what-is-a-homestyle-renovation-loan\/","title":{"rendered":"What is a HomeStyle Renovation Loan?"},"content":{"rendered":"<p style=\"text-align: center;\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-medium wp-image-21058\" title=\"what is a homestyle renovation loan\" src=\"https:\/\/dev203k.orbitwebx.com\/dev203k\/wp-content\/uploads\/2013\/12\/photodune-271572-home-construction-site-s-620x411.jpg\" alt=\"\" width=\"620\" height=\"411\" \/><\/p>\n<p><em>What is a HomeStyle Renovation Loan<\/em>?<\/p>\n<p>This newest product is the <strong><a title=\"Fannie Mae\" href=\"http:\/\/www.fanniemae.com\" target=\"_blank\" rel=\"noopener\">Fannie Mae <\/a>HomeStyle Renovation Loan<\/strong> and it can be used on any property, not just ones owned by <a title=\"HUD\" href=\"http:\/\/www.hud.gov\" target=\"_blank\" rel=\"noopener\">Fannie<\/a> as the name might suggest.<\/p>\n<p>With this product borrowers may finance up to 50% of the after improved value. The repairs\/upgrades that can be done are really anything that is permanent to the property and that adds value. Some <a title=\"https:\/\/dev203k.orbitwebx.com\/dev203k\/scenarios\/\" href=\"\/Repair%20Examples\" target=\"_self\">examples <\/a>of those items would be remodeling a kitchen or bathroom, installing hardwood floors, granite counter tops etc. Other projects that may be tackled include replacing pool decking, adding landscaping, and this is just the tip of the iceberg. Very few project are not allowed as long as they will add value and become a permanent fixture to the property.<\/p>\n<p>So many <a title=\"renovation loans\" href=\"https:\/\/dev203k.orbitwebx.com\/dev203k\/loan-programs\/203k-rehab-mortgage-loans\/\">renovation options <\/a>becoming available \u2026how do you keep them straight? Well here is this program in a nutshell: This particular program is great for going up to a $417,000 loan amount, great for purchasing second homes and investment properties that need repairs. It\u2019s also great for all Condo sellers\/buyers. The best part is that there is no need to worry about if the condo is <a title=\"https:\/\/dev203k.orbitwebx.com\/dev203k\/how-to-purchase-a-fannie-mae-foreclosure\/\" href=\"\/FHA%20203k%20Rehab%20Loan\">FHA approved <\/a>\u2026this is a <a title=\"homestyle renovation loan\" href=\"https:\/\/dev203k.orbitwebx.com\/dev203k\/fannie-mae-homestyle-renovation-mortgage-loan\/\">Conventional product <\/a>and condo renovations are allowed! <strong>The best part is the down payment is only 5% for primary residence and second homes! Investors will only need a down payment of 10%.<\/strong><\/p>\n<p>Market your listings \u201cas is\u201d and let the buyer customize the home to their particular liking with one of our many renovation loans!\u00a0\u00a0It&#8217;s also great for a seller not willing or unable to make any required repairs.\u00a0 With apprasial requirements being a bit more strict and underwriting guidelines tightening it&#8217;s nice to know that when lender required reparis are required there is an option for your buyer or seller.<\/p>\n<p><span style=\"color: #ff0000;\">Repairs don&#8217;t scare me and they shouldn&#8217;t scare you either!!\u00a0 Use the HomeStyle Renovation loan to benefit your buyer or your seller!<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>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.<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[70,58],"tags":[],"class_list":["post-18059","post","type-post","status-publish","format-standard","hentry","category-fannie-mae-homestyle","category-mortgage"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.1 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>What is a HomeStyle Renovation Loan?<\/title>\n<meta name=\"description\" content=\"Fannie Mae HomeStyle Renovation Loan and it can be used on any property for purchase or renovation. 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