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3 July 2024 | 3 replies
Alternatively, look into renovation-specific loans like the Fannie Mae HomeStyle Renovation or FHA 203K loans as standalone products for rehab costs.FHA 203K LoanPros:Low Down Payment & Bundled Costs: This loan simplifies the process by combining the purchase and rehab costs into one mortgage.Cons:Interest Rate & Refinance Requirement: Higher interest rates and the need for refinancing could reduce your overall return on investment.Fannie Mae HomeStyle Renovation LoanPros:Bundled Costs: Like the FHA 203K, this loan combines purchase and renovation costs, simplifying the process.Cons:Interest Rate & Refinance Requirement: Similar to the FHA 203K loan, the need for refinancing to extract equity and convert to an investment property might add to your costs.I am a loan officer so I have some expertise in this area.
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1 July 2024 | 5 replies
You just have to take your time, have a sharp exacto knife, and make sure to line up each sheet properly.
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2 July 2024 | 0 replies
Keep them coming!
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2 July 2024 | 7 replies
Welcome to BP.If you intend to use a VA backed product, it must be for your primary residence.
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3 July 2024 | 9 replies
Our products are also very diverse with over 80 investors.
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2 July 2024 | 15 replies
There is a conventional renovation product if you qualify for it.
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2 July 2024 | 3 replies
While they have historically been underappreciated and de-valued, this too is changing, particularly as new loan products are being released specifically for the purpose of funding ADU construction.
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3 July 2024 | 14 replies
Im the opposite, I recently had to sue a company for a product defect, so evictions and court proceedings imo can make you go insane.
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2 July 2024 | 5 replies
Our acquisitions person is walking properties and making offers, our project manager creates the product, my partner does dispo and I go get investors.
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2 July 2024 | 18 replies
Which of your loan products meet that requirement?