What is a Fannie Mae HomeStyle Loan?
I wanted to share a few of the advantages of the Fannie Mae HomeStyle Loan Program
- Buyers will immediately add equity to their new home
- All types of renovations (even structural) allowed as long as they are attached and add value to the Buyers new Home
- Buyers can remodel their new home to fit their needs
- Buyers can have the kitchen or bathroom they want
- Buyers will be able to get into the school district or neighborhood they desire
- Renovation Costs up to 50% of After Repaired Value
- 95% Loan to Value
I am putting together a HomeStyle “Team” of a General Contractor and HUD Consultant so they are familiar with the paperwork and process. Thus providing a smoother closing for the Buyer.
With the huge surge of interest in the Renovation TV Shows the HomeStyle Loan Program: many buyers in the current market have an interest in older homes but want updates and or opening up the living areas. This loan will provide them that opportunity.
If you would like more details let me know.
Also FYI this is NOT the Fannie Mae Renovation program which is income based.
An attitude of gratitude creates blessings – Sir John Templeton
Western Missouri Branch Manager
& Licensed Loan Originator
NMLS # 245378
National Asset Mortgage, LLC
NMLS # 836952
1201 N. S. Briarcliff Parkway, Kansas City, Mo 64116