THE DREAM - Renovate Your Next Home Like HGTV. Now!
Yaaas! Could you imagine...
Walking into a your new house with contrasting cabinets, mid-century modern furniture, and shiplap for days!? I sure can.
What once felt impossible, unless you had $50,000 in your pocket, now seems possible. Freddie Mac has just announced the roll out of its CHOICERenovation loan program.
Basically, you, the borrower, can apply for a single loan for the both the purchase and renovation of a new home. Just like other FHA loans some borrowers may only need to bring 3% down to the closing table. That means on a $250,000 house you would only need to bring approximately $7500 before fees
Where the rub comes, is that they will only loan up to 85% of the finished home's market value ($85,000 on a $100,000 in-like-new condition). However, If you or your agent have great negotiating skills you may be able to purchase and renovate a home fully funded by the program. Inquire your agent and/or lender about this loan.
Author:Erin Bishop Phone: 717-873-8767 Dated: June 21st 2019 Views: 348 About Erin: Erin is the Sales Director for Space and Company as well as a licensed real estate agent and experie...
Having grown up in a family who relocated several times before the age of eighteen, the real estate process was always a part of Matt’s life and remains one of his fondest childhood memories.
After graduating college with a degree in marketing, he worked on the business administration side of the beauty and fashion industry for nearly a decade, followed by a career in the field of health and human services. With a passion for aesthetic, architecture and design, combined with an innate drive to help people as they navigate life’s changes, real estate was a natural fit.
Matt has the ability to see a property for both its design potential and market-based investment value. He walks his clients throu gh the buying and selling process with the attention, care and compassion they deserve. His focus on relationship building within the field, with both clients and professionals, is the foundation on which he has built his brand, and the driving force behind how he works to find the best property for you and your future.