{"id":20847,"date":"2013-11-20T23:16:32","date_gmt":"2013-11-20T23:16:32","guid":{"rendered":"http:\/\/203krehabnow.com\/?p=20847"},"modified":"2013-11-20T23:16:32","modified_gmt":"2013-11-20T23:16:32","slug":"4-loans-that-closed-with-the-help-of-a-renovation-loan-in-texas","status":"publish","type":"post","link":"https:\/\/dev203k.orbitwebx.com\/dev203k\/4-loans-that-closed-with-the-help-of-a-renovation-loan-in-texas\/","title":{"rendered":"4 Loans That Closed With The Help of A Renovation Loan in Texas"},"content":{"rendered":"<p>Sometimes it takes a village to close a loan but other times it just takes a <a title=\"FHA 203k Texas\" href=\"https:\/\/dev203k.orbitwebx.com\/dev203k\/about\/\">qualified loan officer <\/a>and a great Renovation Loan such as the <a title=\"FHA 203k in Texas\" href=\"https:\/\/dev203k.orbitwebx.com\/dev203k\/why-the-203k-full-rehab-loan-for-structural-repairs\/\">FHA 203k <\/a>or the <a title=\"Fannie Mae HomeStyle Texas\" href=\"https:\/\/dev203k.orbitwebx.com\/dev203k\/fannie-mae-homestyle-renovation-mortgage-loan\/\">Fannie Mae HomeStyle loan<\/a>.\u00a0 <strong>Here are some recent examples of how the FHA 203k or the Fannie Mae HomeStyle Renovation loan saved the day!<\/strong><\/p>\n<p><a href=\"https:\/\/dev203k.orbitwebx.com\/dev203k\/wp-content\/uploads\/2013\/11\/2013-05-28_14-29-23_233.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignleft wp-image-20851\" title=\"Foundation Repair\" src=\"https:\/\/dev203k.orbitwebx.com\/dev203k\/wp-content\/uploads\/2013\/11\/2013-05-28_14-29-23_233-200x112.jpg\" alt=\"\" width=\"210\" height=\"122\" \/><\/a><\/p>\n<p>Over in Irving, Texas a buyer found a great starter home that he was able to purchase for $97,000.<span style=\"color: #ff0000;\"> All is going well until the inspection report showed the home needed foundation work<\/span>. That\u2019s when I got a call from a disappointed sounding buyer as he thought it would be a deal breaker\u2026I told him to think again! Enter the <strong>FHA 203k loan and the day is saved<\/strong>. He was already doing an <a title=\"FHA 203k Answers\" href=\"http:\/\/activerain.com\/blogsview\/4255456\/did-you-know-fha-203k-answers\" target=\"_blank\" rel=\"noopener\">FHA loan <\/a>so we just flipped it to a 203k and all was well. Along with getting the foundation repaired the buyer was also able to do some other repairs on the home including light plumbing and electrical. Replacing shingles on the <em>\u201cman cave\u201d<\/em> out back\u2026AKA the shed. And we have a happy home owner on our hands. Project total about $12,000 in renovation.<\/p>\n<ul>\n<li>Purchase price was $97,000<\/li>\n<li>Repair amount was $12,000<\/li>\n<li>After improved value was $113,000<\/li>\n<li>Loan amount was $106,700<\/li>\n<\/ul>\n<p><a href=\"https:\/\/dev203k.orbitwebx.com\/dev203k\/wp-content\/uploads\/2013\/11\/Complete.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignleft wp-image-20854\" title=\"HomeStyle Texas\" src=\"https:\/\/dev203k.orbitwebx.com\/dev203k\/wp-content\/uploads\/2013\/11\/Complete-450x450.jpg\" alt=\"\" width=\"324\" height=\"324\" \/><\/a><\/p>\n<p>Next up we helped a current home owner use the <a title=\"FHA 203k Renovation Loan\" href=\"https:\/\/dev203k.orbitwebx.com\/dev203k\/the-fha-203k-renovation-loan-in-texas-is-just-for-hud-foreclosures\/\"><strong>FHA 203K as a refinance<\/strong> <\/a>to roll in\u00a0repairs and renovate in Dallas, TX. The total project was a little over $72,000 in renovations. First on the list was an overhaul of the entire electrical system and plumbing. Moving down the project list we added new wood floors and all new windows throughout. We finished up with a new kitchen\u2026including cabinets, counter tops and all new appliances! There were many minor repairs done along the way. The best part for this happy homeowner was that with the new appraised value we were able to <span style=\"color: #ff0000;\">roll the cost of renovation and all closing costs into the loan<\/span>! Now that is a great deal!<\/p>\n<ul>\n<li>Repair amount was $72,000<\/li>\n<li>After improved value was $195,000<\/li>\n<li>Loan amount was $170,690<\/li>\n<\/ul>\n<p>Our 3rd renovation project was done in Humble, TX. This project was completed using the <a title=\"FHA 203k streamline\" href=\"https:\/\/dev203k.orbitwebx.com\/dev203k\/streamlined-203k-rehab-loan\/\">FHA 203k Streamline loan<\/a>. This project included a new patio door and some HVAC work. Then the fun stuff! Kitchen will get new granite counter tops that will make the peninsula a great place to hang out. New sinks in the kitchen and bathrooms then to finish up, new appliances! \u2013 built in oven, cook top, microwave and dishwasher. This was a project totaling $17,500.00 and the homeowner cannot wait to get that <span style=\"color: #ff0000;\">kitchen makeover<\/span> completed!<\/p>\n<ul>\n<li>Purchase price was $144,900<\/li>\n<li>Repairs amount was $17,500<\/li>\n<li>After improved value was $174,500<\/li>\n<li>Loan amount was $161,645<\/li>\n<\/ul>\n<p style=\"text-align: center;\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-20858\" title=\"FHA 203k rehab loan in texas\" src=\"https:\/\/dev203k.orbitwebx.com\/dev203k\/wp-content\/uploads\/2013\/11\/Miksa-Complete-450x450.jpg\" alt=\"\" width=\"405\" height=\"405\" \/><\/p>\n<p>A whopper of a project was also stated here in Dallas, TX utilizing the <a title=\"FAQ\" href=\"https:\/\/dev203k.orbitwebx.com\/dev203k\/frequently-asked-questions-about-renovation-lending\/\">Fannie Mae HomeStyle Renovation Loan<\/a>. The buyers bought a great house that had already been renovated on the inside in most areas. So they were happy to focus on the outside and added a pool, patio and a board on board fence! Stepping back to the inside\u2026.replaced carpet with hard wood floors, renovated a bathroom and changed out the paint color throughout the house for a project total of over $92,000. <span style=\"color: #ff0000;\">All of this was financed into the purchase of the home and the down payment was only 5%. Looking forward to seeing pictures of the backyard oasis they have created!<\/span><\/p>\n<ul>\n<li>Purchase price was $315,000<\/li>\n<li>Repair amount was $92,000<\/li>\n<li>After improved value was $400,000<\/li>\n<li>Loan amount was $380,000<\/li>\n<\/ul>\n<p><span style=\"color: #ff0000;\">As you can see the possibilities are endless<\/span>. Maybe you are a Realtor with a client looking at a home that needs a Renovation Loan OR maybe you have a home that just needs updating&#8230;either way my team and I have a loan for you. <a title=\"Contact\" href=\"https:\/\/dev203k.orbitwebx.com\/dev203k\/contact\/\">Give us a call today<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>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!<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[67,70,62],"tags":[128,71,161],"class_list":["post-20847","post","type-post","status-publish","format-standard","hentry","category-203k-full","category-fannie-mae-homestyle","category-mortgage-programs","tag-fannie-mae-homestyle-rehab","tag-fha-203k","tag-texas"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.1 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>4 Loans That Closed With The Help of A Renovation Loan in Texas<\/title>\n<meta name=\"description\" content=\"Recent examples of homes that closed in Texas using the FHA 203k or the Fannie Mae HomeStyle Renovation loan.\" \/>\n<meta name=\"robots\" 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