April 3, 2018

HomeStyle and 203(k) are both available loan options if you are a first time home buyer.  There is no requirement to have previously purchased a home or have any history of owning and investing in property.  

In fact, these loan options serve as a great t...

March 28, 2018

When you're using a 203(k) or a FannieMae HomeStyle loan, your contractor is paid through a draw schedule. A draw schedule establishes that once "x" work is complete, the contractor can be paid for it. The HUD Consultant is responsible for creating and implementing the...

March 23, 2018

In previous blog posts we have discussed the importance of your lender, your contractor, and the role of a HUD consultant in a renovation loan.  In this article, we want to cover a few major tips when it comes to choosing your realtor. You realtor is an integral part o...

March 11, 2018

Whats it going to cost me?

Let's say you find a home for $500,000, but you know it's going to need some fixing up. 

Your first step is to get a contractor out to the house to work up a bid for you.  The contractor tells you that you'll need $100,000 worth of funds to  re...

March 9, 2018

Alongside your lender, the most instrumental person in a Fannie Mae HomeStyle loan is the contractor. Your contractor plays a crucial role.  The contractor can be the reason that this is an amazing loan product and an amazing experience for you, or they can cripple the...

March 8, 2018

A common question that we are receiving is - How do the terms and costs of these loans differ from that of a normal FHA or conventional loan? 

Obviously, it's important to acknowledge that everyone's terms will vary depending on qualification. Things like credit score,...

March 7, 2018

Did you know that you can get a Fannie Mae HomeStyle Renovation Mortgage or a 203(k) loan to refinance your home?!  That's right!

Say for example, that you've outgrown your home, but you want to stay in the neighborhood.  Ever thought about building an addition to...

March 4, 2018

Don't let your realtor/lender talk you out of moving forward with a renovation loan! (I might say it a few more times!)

There are so many "myths" surrounding renovation loans that just aren't true.  We wanted to give you some typical responses that you might hear when y...

March 3, 2018

In this post, we're covering your renovation budget, and how much can be financed.  

Your renovation budget is limited to 50% of the "As Completed Value" of the home.  So if the "As Completed Value" is $600,000, that means renovations can be up to $300,000....

March 1, 2018

Fannie Mae HomeStyle Renovation Loans are not just for detached homes, they can also be used for condos as well. 

However, one critical step that exists with condos, that does not exist with most single family detached homes, is that homeowners must obtain written appro...

Please reload

Our Recent Posts

March 28, 2018

Please reload

Archive

Please reload

Tags

Please reload

OneTrust Home Loans is trade name of the legal entity, CalCon Mutual Mortgage LLC, a Delaware LLC (NMLS #46375). The OneTrust name has been registered in most states where CalCon operates, and in those states where it is not registered, we operate as CalCon. Equal Housing Lender. Matt Glynn NMLS #845662 / Matt Mounier NMLS #1378630 

NMLS Consumer Access | Locations and Licensing  | Privacy