Unlock Hidden Potential: How Renovation Loans Like 203(k) and HomeStyle Can Help You

[Ben Fernandez]

Is anyone using the 203k or HomeStyle loan locally to help homebuyers? Especially during this time of challenging inventory issues...

[Ben Fernandez]

@Kerry Baird These are renovation loans traditional lenders sponsor to help homebuyers. These loans allow buyers to purchase and renovate all in one swoop. The partners between a realtor like myself (proficient in renovation experience), a general contractor, usually a loan consultant to support the buyer and the lender, (along with a buyer and seller of course) are the parties involved.

I come across so many homes perfect for 203k or HomeStyle buyers, on and off-market, it isn't funny. I do my best to be the intermediate between the consumer and the seller, simply by bringing awareness to a buyer's potential. I think most people have no idea about theses products.

In these times of tight inventory, I've been promoting for years that buyers should consider these types of renovation loans, or to buy new builds. These are two ways you could solidify your equity. Passing up something that would allow you to make it your dream home isn't necessary. You just need th right partners.

I say, if you're buying flipped homes anyway (which of course people are), why not do them yourself...Especially if you're waiting on the side lines letting time pass you buy. 

I'm a licensed realtor in PA with renovation experience for anyone that wants to connect. What I'd like to do is help homebuyers achieve down payment assistance, use a 203k or HomeStyle and potentially house hack as well. That's what I call the ultimate trilogy. Helping people " make your next move your best move".