Our 203K and Homestyle Renovation Loan Rates Are Low & Our Process is Quick & Painless
An FHA 203K loan is a loan backed by the federal government and given to buyers who want to buy a damaged or older home and do repairs on it. Here’s how it works: Let’s say you want to buy a home that needs a brand-new bathroom and kitchen. An FHA 203K lender would then give you the money to buy (or refinance) the house plus the money to do the necessary renovations to the kitchen and bathroom.
A Fannie Mae Homestyle Renovation loan is the conventional version of an FHA 203k loan and usually applies to borrowers with better credit profiles. On top of that, the product offers better mortgage insurance options, lower closing costs and a wider range of renovations you can do such as an inground pool.
These are the perfect loan for a borrower with sufficient income, a minimum 620 credit score and want to turn a fixer upper into a dream home. These home improvement and construction loans are great for auctions, foreclosures, or home in short sale. Also they are good for people currently living in a home that needs updating.
We’re here to make the 203K and Homestyle loan process a whole lot easier, with tools and expertise that will help guide you along the way, starting with our FREE 203K/HomeStyle Reno Loan Qualifier.
We’ll help you clearly see differences between loan programs, allowing you to choose the right one for you – whether you’re a first-time home buyer or a seasoned investor.
The 203K & Homestyle Renovation Loan Process
Here’s how our home loan process works:
- Complete our simple 203K/Homestyle Reno Loan Qualifier
- Receive options based on your unique criteria and scenario
- Compare mortgage interest rates and terms
- Choose the offer that best fits your needs