A new renovation mortgage from Fannie Mae gives borrowers enhanced options to improve their homes’ energy efficiency
Lender says that in a tight housing market, the ability to offer renovation financing makes fixer uppers a much more attractive offering
Loan officers offering the FHA 203k loan program are seeing an upswing in homebuyers interested in the product, but still not as much as they’d expect.
One of my clients, who has flipped over 400 homes, never has to think about what carpet or paint to put into his rehab houses. His contractor has the SKU numbers conveniently filed at Home Depot for easy ordering, pickup, and payment. Using one home improvement supplier like Home Depot has helped this real estate investor to quickly and efficiently flip many rehab houses over the years.
The FHA 203k loan program provides home buyers the opportunity to buy and fix up a property, without exhausting their personal savings.