Have you ever watched on of those television programs where people are renovating their home? Do you wish you had the money to renovate your home or buy a home and renovate it to suit your style?
FHA has a program designed for renovating properties. Prior to the mortgage melt down, very few people had heard of the FHA renovation loan program. Some Real Estate Agents had heard of the program but discouraged their borrowers from using the program because it is complex and can take a longer time to close than regular mortgage loans.
It is my personal opinion that FHA has the best renovation mortgage loan product on the market. A borrower can purchase a home that needs renovation and get the money for repairs all with one mortgage loan. current homeowners that want to renovate their home can use this same program to refinance and renovate their home.
Have you considered refinancing your mortgage? Consider this, use the FHA renovation loan to refinance your home and do improvements at the same time. Renovating your home will increase the value and the equity in your home.
Are you looking to purchase a home, but everything you see needs repairs? The FHA renovation loan is the perfect answer. Are you a first time investor and don't know where to start? Purchase a multi-family unit, a maximum of four units. Renovate all units and live in one of the units; your tenants will pay your mortgage and you will save money.
Make more space in your home and earn more income by reducing a large home to a duplex or purchase a six or eight unit apartment building renovate it to become three or four units; you can occupy one unit and the other units will pay the mortgage. Remember, the more square footage and amenities you have to offer the tenant the greater the rent you can receive.
Now is the perfect time for people to and purchase a home and not overlook those homes that need renovation. The prices of homes are so very low that in some areas of the country a house can be purchased and renovated all for less than $100,000.00. Housing is truly affordable right now, it takes knowing and understanding the available mortgage loan programs.
There are many exciting things that can be done with this program, and it is my personal opinion that anyone using this program should have detail knowledge of how the program works.
Get excited about owning a home and renovating it to your style. Get the FHA renovation loan.
FHA has a program designed for renovating properties. Prior to the mortgage melt down, very few people had heard of the FHA renovation loan program. Some Real Estate Agents had heard of the program but discouraged their borrowers from using the program because it is complex and can take a longer time to close than regular mortgage loans.
It is my personal opinion that FHA has the best renovation mortgage loan product on the market. A borrower can purchase a home that needs renovation and get the money for repairs all with one mortgage loan. current homeowners that want to renovate their home can use this same program to refinance and renovate their home.
Have you considered refinancing your mortgage? Consider this, use the FHA renovation loan to refinance your home and do improvements at the same time. Renovating your home will increase the value and the equity in your home.
Are you looking to purchase a home, but everything you see needs repairs? The FHA renovation loan is the perfect answer. Are you a first time investor and don't know where to start? Purchase a multi-family unit, a maximum of four units. Renovate all units and live in one of the units; your tenants will pay your mortgage and you will save money.
Make more space in your home and earn more income by reducing a large home to a duplex or purchase a six or eight unit apartment building renovate it to become three or four units; you can occupy one unit and the other units will pay the mortgage. Remember, the more square footage and amenities you have to offer the tenant the greater the rent you can receive.
Now is the perfect time for people to and purchase a home and not overlook those homes that need renovation. The prices of homes are so very low that in some areas of the country a house can be purchased and renovated all for less than $100,000.00. Housing is truly affordable right now, it takes knowing and understanding the available mortgage loan programs.
There are many exciting things that can be done with this program, and it is my personal opinion that anyone using this program should have detail knowledge of how the program works.
Get excited about owning a home and renovating it to your style. Get the FHA renovation loan.
Rae McCall I spent more than 20 years as a Mortgage Loan Officer. It was my responsibility to guide borrowers through the process finding the best mortgage loan product to fit their needs.
I like your blog! I check it once in a while and always find interesting reading. Thanks for this information.
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