HomeStyle Renovation Mortgage- 3 Quick Examples

  As a Loan Officer specializing in renovation financing I wanted to pass along 3 examples of how the Fannie Mae Conventional HomeStyle renovation mortgage has worked for clients of mine. My own view is this conventional rehab mortgage has not been explained well to consumers and not publicized well. I’m writing today to encourage those who either own a … Read More

Why Finance a Home Rehab Project ? “After Improved Value” is Why

 As I speak with clients and those referred to me who have questions about doing a home renovation project the subject of cost and finance is always present. My focus is providing guidance on how a home renovation can be paid for. What I mean by home renovation is either your current home or one you may be planning to … Read More

Investors Need Cash for a Home Rehab ? Try HomeStyle Mortgage

Recently I was speaking with an investor who buys old houses or foreclosures to rehab and sell. His business model is not to retain these homes and lease to tenants. Rather he buys, rehabs and sells for a profit to replenish his cash. He was telling me he uses all his own cash as he hasn’t found a bank to … 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

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

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

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