Homestyle Renovation Loan in Northern Virginia

Homestyle Renovation Loan in Northern Virginia

New to Real Estate · Northern Virginia · Member since 2020 · 20 posts · 14 votes

Hi, I'm interested in pursuing a Fannie Mae Homestyle renovation loan and am looking for lenders. Any recommendations would be greatly appreciated!

I know that you can look up 203k lenders on the HUD endorsement summary but hadn't seen anything similar for Homestyle lenders.

Also, if anyone has experience with this loan and would be open to share their experience, let's connect!

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  • Lender · Virginia Beach, VA · Member since 2021 · 18 posts · 14 votes
    4y

    Hey Sam! I'm a Loan Officer based in VA and I can do Homestyle reno and FHA 203k loans. I'd be happy to hop on a call sometime. Sending you a PM.

  • Real Estate Agent · Tempe, AZ · Member since 2011 · 1k+ posts · 543 votes
    3y

    @Samuel Choi

    Most lenders who are experienced with the FHA 203k can competently do the Fannie Mae Homestyle and the Freddie Mac CHOICERenovation loans.

    Just make certain to use a contractor who is experienced with reno loans or one that has been properly educated and had their finances verified such as a Certified 203k Contractor. Without strong financials, contractors will not be able to afford the startup costs and ongoing expenses associated with reno loans, not to mention they will usually get lost with the required paperwork, timelines, guidelines, and processes if they have not been educated on reno loans or had their reno loan experience verified. 

    Hope this helps! 

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