Homestyle Renovation Loans for Real Estate, Investors, Investments

By
Real Estate Agent with Bradenton-Homes, Experts - Keller Williams Realty

fannie mae, home, renovation, mortage, home loans, investors, investmentsUsing a Fannie Mae HomeStyle® Renovation loan is an attractive financing option for investors because it allows an investor to leverage available capital to purchase multiple investments, if they so choose. 

Previous to the availability of this type of renovation loan to investors, an investor might buy a home for $100,000 and spend $35,000 to renovate and repair the property in order to bring it to ‘rentable condition’ and the investor has used up $135,000 of his available assets. With the Fannie Mae HomeStyle® Renovation loan, an investor can now purchase, essentially, any home, condominium, villa, or townhome, in any condition, and retain between 50-75% of available capital to use for more investment opportunities.

Read more here... HomeStyle Renovation Loans

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Topic:
Lending / Financial
Location:
Florida Manatee County
Tags:
investments
investment
investor
financing
mortgages
mortgage
loans
loan
home
real estate
sarasota
bradenton

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Rainmaker
413,202
Mike Young
FHA 203k Consultant 707-812-7668
203kOnLine.com, covering California & most other states

Very nice... we will suggest someone go from a 203k to a HomeStyle loan when it seems to fit the needs of the client better. I had one recently where the client wanted a swimming pool and the 203k won't allow you to add a pool but HomeStyle will. I'm surprised more investors don't use it though a good many do. Nice post.

June 25, 2012 08:02 AM
Rainmaker
122,692
Bradenton, Sarasota, Real Estate ~ The Serena Group
Selling Real Life Dreams in Paradise!
Bradenton-Homes, Experts - Keller Williams Realty

Thanks, Mike!  Yes, HomeStyle is a great option, in certain circumstances, for investors.  It's our job to make sure they know about it.  Happy Selling!

June 26, 2012 07:03 AM
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Rainmaker
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Bradenton, Sarasota, Real Estate ~ The Serena Group

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