About Patrice Watkins
As a licensed HomeBridge Mortgage Loan Originator, Patrice can originate loans in GA, AL, FL, NC and SC, and is Renovation Certified in these states.
Patrice Watkins is 203(k) Renovation Lending Certified
Patrice is certified in 203(k) Renovation Lending, a program particularly well suited for buyers of fixer-uppers and REOs in need of repair. Homebuyers can finance both the purchase and future repairs on their new home with one loan.
Expertise, attention to detail and world-class service set Patrice apart from the competition, especially when it comes to Renovation loans!
Renovation financing does not have to be complicated. Patrice thoroughly understands the mathematics of Renovation loans in identifying and rectifying potential problems that could arise, answering all questions however complex, and keeping buyers and their Agents updated and informed of each phase of the loan process, from application to closing.
With more than 15 years in the mortgage industry and more than 10 years in Renovation financing, Patrice has the knowledge and expertise to help clients determine the loan that best fits their unique needs, including:
- First-time purchase
- Second home purchase
- FHA and VA
- 203(k) Renovation
The Renovation Loan offers some great features. The amount of money you are permitted to borrow for the purchase and renovations is based on the increased value of your home after improvements are made1. Also, because renovation costs are spread throughout the entire term of the loan, monthly payments are often lower than other financing options. With the loan, there is also no need to delay improvements. You can start in immediately after closing. Another great feature is the loan’s simplicity ― one application, one set of fees and closing costs, one closing to attend and one payment each month. The interest on the cost of your improvements, included in your mortgage, may be tax deductible2 as well.
Get more information now, by filling out the blue “Start Your Loan” form on the upper right side of this page!
Contact Patrice Watkins Anytime
Feel free to contact Patrice anytime by phone or email for personalized service and expert advice. Patrice Watkins will extend the same professional service to your friends, family members, work colleagues or neighbors who need help.
1For 203k purchase transactions the maximum loan amount is the lesser of the sales price plus renovation costs or 110% of the as-completed value, times the maximum loan-to-value. For refinance transactions the maximum loan amount is the lesser of the property value before renovation plus renovation costs or 110% of the as-completed value, times the maximum loan-to-value. Loan amount must be within FHA county loan limits.
For HomeStyle® purchase transactions the maximum loan amount is based on the lesser of the sales price + renovation costs or 100% of the as-completed value, times the maximum loan-to-value allowable. For refinance transactions the maximum loan amount is based on the lesser of 1) 100% of the as-completed value times the maximum loan-to-value or 2) the balance on the existing loan plus the renovation cost plus the settlement costs. The maximum repair amount is limited to 50% of the as-completed value. HomeStyle® is a registered trademark of Fannie Mae.
2Please consult a tax advisor for further information regarding the deductibility of interest and charges.