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"HomePath Renovation"
What Type of Homeowner’s Insurance Do I Need for a Renovation Loan?
I am not an insurance agent, but I do have several excellent referral partners that have educated me on the differences in the insurance companies and their policies in relation to a standard home purchase and a purchase + renovation transaction.
My job is to [...]
HomeSteps vs. HomePath – What’s the Difference
Clearly, we have delved into Fannie Mae HomePath and HomePath Renovation loans in depth, but this is the first time I have stepped into Freddie’s HomeSteps program. So, what is Homesteps?
Not sure why it has taken this long, maybe because Freddie themselves lacked articulation on exactly what the heck [...]
Investor Renovation Loans
2011 and beyond presents an amazing opportunity for real estate investors. Whether you are buy and hold or fix and flip, whether you are in Alabama, Georgia, Florida, South Carolina or Tennessee – it doesn’t matter, the market is RIPE!
If you are a cash investor then have at it, the world is yours. [...]
203K Loan & HomePath Approved Contractors?
Excellent question, one that I get from potential home-buyers all the time. The answer? You can’t, no such list exists!
While some individual lenders may keep records of their “approved” contractors, HUD nor Fannie Mae have a master list of RENOVATION certified general contractors. Why?
Why no master list exists is simple, [...]
HomePath Renovation Mortgages – What Are They and Why Should I Care?
If you are housing hunting you are no doubt seeing HomePath properties everywhere. What the heck are they and why should you care?
HomePath properties are foreclosures held by Fannie Mae that previously had a Fannie Mae loan on them.
With a glut of inventory and [...]
FHA 203K | HomePath Renovation – Contractor Selection
Want a successful FHA 203K or HomePath Renovation? You need to select the right contractor. Contractor selection is YOUR choice. It is VITAL. YOU need to do the research, YOU need to make the calls, YOU need to get the bids and YOU will ultimately make the contractor [...]
FHA 203K | HomePath Renovation | HomeStyle Renovation Loans – The Draw Process
I have closed hundreds of RENOVATION LOANS that all have one thing in common, both the contractor and the borrower want to know how the DRAWS are disbursed. Of course they do, this is critical information. HOW you get paid & WHEN you [...]
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