How to Plan a Successful Home Rehab from Bottom to Top

                                                                                                Before                               How to Plan a Successful Home Rehab from Bottom to Top After Recently I was with new clients purchasing an older home they will be doing a renovation project on after they close on the purchase. In speaking further about details the clients expressed to me they had not considered all the decisions to be made that will … Read More

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

How to Buy & Finance a 2 Unit Property with a 203K Loan

How to Finance a 2 Flat Rehab As part of my job in assisting clients with financing of properties and related renovation costs I answer many questions.  One frequent question asked is, “Will it be worth all the effort ?”.  Meaning will it be a good financial move for them, will the project turn out pleasing them, will the renovation … Read More

Student Loans Stopping You From Buying a Home ?

             Are Student Loan Payments Stopping You From Buying a Home?   In my role as a Loan Officer who specializes in renovation loans I speak to many potential buyers. These days it is not uncommon for a first time buyer to have student loan payments that are actively in repayment or will one day be in repayment after any … Read More

7 Steps to a Successful 203k or HomeStyle Renovation

                                       7 Steps to a Successful Purchase Closing Using an FHA 203K or                                                                                    HomeStyle Renovation Loan Have you been searching for the perfect house ? As a Realtor do you have clients forever looking at properties only to find a reason why each is not perfect for them ? As much as we all wish it were true, … Read More

203K Renovation Can Be Overwhelming

As I work with 203K and HomeStyle clients on rehab projects I often see them experience a sense of being overwhelmed by decisions and choices to be made. Meaning in the course of rehabbing a single family home for example, a buyer or owner is called upon to make dozens, even hundreds of decisions. As someone who is responsible for … Read More

Why Would Anyone Want to Buy a Home With a Rehab Loan ?

Realtors Ask: Why Would Anyone Want to Buy a Home With a Rehab Loan ?   Many times in speaking to Realtors who have clients asking to see properties that are old, outdated or missing key components, they ask why show these properties ? Why not look at a remodeled home or newer one instead ? They say look for … Read More

When Is A 203K Helpful For The Basics In A Home?

An FHA 203K loan is often selected by home buyers or those wishing to finance improvements to their current home. Clients might plan a new kitchen or new baths or even hardwood floors to replace carpeting for example. In other words major improvement projects. But a 203K can also be used to finance more overlooked or minor issues that most … Read More

Top 20 Questions Buyers and Owners Ask About FHA 203K Renovation Loans

Clients and Realtors in the Chicago area often ask me questions on FHA 203k renovation loans so I thought I would take the top 20 and present answers here in a concise format. Please send me any of your own questions on 203k rehab mortgages to Perry Farella at pfarella@amerifirst.com. With an FHA 203K if I put 20% down do … Read More