HomeStyle Mortgage Loan

[Joseph Platyan]

Has any used the "HomeStyle" loan before? It looks interesting. Apparently it works similar to a 203K loan however it doesn't have to be an owner occupied home. It can be for investment purposes too. Conventional so 5% down. Can borrow up to 80% of the acquisition or up to 50% of the "as-completed" value or ARV (whichever is lesser).

Seems like it may be a good loan for someone trying to do a "BRRRR" or similar type project.

Anyone try this one yet?