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

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

The Fear of Cost on a Home Rehab Project

This year I have met many clients who are exploring whether to buy a property to rehab or not. Other of my clients are thinking of a rehab on a home they have purchased in the last few years that no longer serves their needs. In some cases there is a fear of doing a renovation that I detect. As … 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

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

Buy and Rehab a Mixed Use Building with a 203K

                     How to Buy and Rehab a Mixed Use Building with a 203K One of the little known uses of FHA 203k financing is to purchase (or refinance) a small building that has both commercial space and residential space. This is allowed by FHA only for owners who will live in the residential space. The commercial space can be leased … Read More

How To Find & Buy A Property Using A Renovation Loan

                              How to Find and Buy a Property Using Renovation Financing:                                                    Realtor & Buyers Renovation Tool Kit I speak with many Realtors who work with buyers. The buyers may have questions about crime statistics, roads, public transportation, local amenities, school system statistics, etc. Many buyers will ask to see properties based on these criteria and more. Buyers are … Read More

HomeStyle- Convert a 2 Apartment Building to a Single Family Home

Here in Chicago and other cities there are many two unit buildings that are very old. Often buyers see them as a chance to create a new single family home. This is because the cost may be lower than buying a new home from a developer, or it may be the property is located in a historic area or even … Read More