First Time Buyers Can Add Money to Rehab in One Mortgage

                                                                                       First Time Buyer? Do you know a mortgage exists that includes rehab                                                                                                                                        funds ?  In one Loan ! If you have read my Blog before you know it’s my passion to spread the word about renovation mortgages !   It’s the best kept secret in home buying. Buy the home with a small down payment and add … Read More

Don’t Walk Away From a Fixer-Upper – Use HomeStyle to Buy & Rehab

                                                             Don’t Walk Away From a Fixer-Upper                                         Use HomeStyle Renovation Mortgage to Buy & Rehab It                                                                                                                                            My goal as a Loan Officer is to get the word out and educate everyone on how to buy property and add money into the same loan to do remodeling and updates.  One of the least known mortgages out there is called … Read More

Top 10 HomeStyle Rehab Loan Question & Answers

In my work helping people finance and plan home renovations I’m asked what types of loans are available. Many times the first loan option that is known would be the FHA 203K. Previously I have written the top questions and answers on 203K at http://perryfarella.com/2014/09/top-20-questions-buyers-owners-ask-fha-203k-renovation-loans/ . There is another rehab loan option called HomeStyle. Here I will answer the top … Read More

HomeStyle Loan Advantages Over FHA 203K

                                            HomeStyle Renovation Loan Advantages Over FHA 203K Recently I was asked to explain differences between the HomeStyle rehab loan and the FHA 203k rehab loan. Both types of loans are based on the final, finished or “after completed” value of the property with all renovations included rather than just the purchase price or present value. There can be advantages … Read More

How to pay Private Mortgage Insurance PMI entirely off when buying a home

How to pay Private Mortgage Insurance PMI entirely at closing when buying a new home The answer is Yes  you can pay off all PMI once  at closing day with a Conventional loan purchase with as little as 5% down payment of the purchase price. First let me explain a bit about  what PMI or Private Mortgage Insurance is and … Read More