Updated over 8 years ago on .
Renovation, Rehab, 203K, Fannie Mae Homestyle Loans
Top mortgage lender, Wells Fargo, has announced that as of June 1, 2017 they will NO LONGER originate FHA 203k and HomeStyle home renovation loans.
Older properties continue to make up an overwhelming majority of the marketplace – and there is a low inventory of homes for sale in this “seller’s market.”
Guaranteed Rate and its in-house Renovation Lending Division continues to grow and originate both FHA 203k and conventional renovation loans.
For those of you who found the "right neighborhood," but wrong property, let's update, rehab or completely renovate the home to fit your needs!
At the first sign a property needs some “TLC” or a complete make-over, please send me an email with all of the following:
- property address
- estimated purchase price
- estimated cost of renovations
- estimated after market value
- fico score
- estimated total savings
- estimated annual income
Please feel free to contact me with any questions or loan scenarios.
Jim Blackburn, NMLS ID: 1072866
Top 1% Originator USA 2016 (pg 54)
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Blackburn Mortgage Team
Guaranteed Rate, NMLS ID: 2611