How to Get Your Dream Home with the FNMA HomeStyle Loan!

Have you ever walked into home and said, “This house is perfect except…?”  You may love the school district, the location, the size of the lot, but if the kitchen is dated, or the layout is all wrong, or you really, really wanted a pool then it’s hard to get excited about “almost perfect.”

Well, you can turn that “almost” house into your Dream Home with a FNMA HomeStyle Loan!

During the past year, we’ve seen houses sold in a matter of days at full price or higher with multiple offers!  It’s never been a better time to sell your home.  But for buyers, it’s a competitive, stressful time to find the right house and make the right offer.  Houses that are move-in ready, recently updated and in perfect condition are sold so quickly the agents barely have time to put a sign in the yard!  But if you know all of your options, you might be able find a gem that’s being overlooked by the masses, because it needs a little work.  Replacing the avocado green ceramic tile in the bathroom, or raising the sunken living room (circa 1972)  could make this so-so house into the one you’ve been looking for!

The Fannie Mae HomeStyle is a conventional loan that allows you to roll the cost of home improvements into your mortgage while you’re purchasing your home. That’s right; I said Conventional Loan.  This is similar to the FHA 203k loan and works similarly.  There’s no need to take out a second mortgage or home improvement loan.  This means one loan, one closing and one set of closing costs!

What type of renovations can you do with a HomeStyle? You can make necessary repairs as well as personalized renovations. You can use it for smaller projects, like deferred maintenance issues, or paint and flooring.  Or you can use it for big projects, such as adding a room or an in-ground pool!

At HomeBridge Financial Services, we have streamlined the process of renovation financing.  With a dedicated Renovation Concierge Service to manage the process, we help you get exactly what you want, with the least amount of fuss.

If you’re interested in learning more about the Fannie Mae HomeStyle loan, or any of our Renovation loan products, call me at 210-269-1774 or email me at cwilliams@homebridge.com.  I’ve been originating renovation loans for more than 14 years and I’m here to help!

 

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