The value in the HomeStyle Renovation Loan is taking ANY house in the right location and turning it into the house you will LOVE. Watch one episode of Fixer Upper with Chip and Joanna Gaines http://tinyurl.com/ovnmj8v and you will see the value as a buyer or current homeowner. And if you’re a realtor, you will too! Waaaaay too much time can be spent getting someone to contract only to let the cosmetics blow the deal. Look at the “CRAP” the Gaines start with and look at the end result. Either all the buyers are paying cash or they are using a HomeStyle loan. I’m pretty sure most are NOT paying cash.
At the end of the program the buyer has their dream house with instant equity AND reduced maintenance costs over the next 10 years.
http://tinyurl.com/ovnmj8v , watch the 15 second commercial (no way around that) and watch a 3 minute summary of a TOTALLY wrecked house, then see the final project. You can also watch the full renovation if you’ve got the time. It gives you a full visual of what you can really do with this loan.
With this program, all the realtors and buyers/current homeowners have to do is pick the place they want to live and let the reno loan do the rest. Viola!
If you’re a realtor – Whether your focus is listing or selling, these programs increase your opportunities, decrease your ‘show’ time and ultimately increase your showings to closings ratio.
Cash only and ‘stale’ listings? These properties are cash only or not selling because they are dated. The HomeStyle Renovation Loan fixes all that. In fact, I’m doing a homestyle renovation loan for a couple in Plant City, FL right now! The listing was a “Cash-Only” listing until I showed the listing agent what the buyers were going to use to update that particular home in the heart of the historic district of Plant City. She had no idea about this loan and wanted to learn more. I just gave her a new option instead of sitting there as a cash only listing (See Below).
About the only thing that matters is location. Your buyer decides where they want to live and the reno loan makes any house in that market their dream home. You show less houses and close more because the buyer/borrower gets EXACTLY what they want, no compromises. It’s truly a win/win!
Damaging Home Inspection? Not anymore! With a HomeStyle Reno Loan, the HUD approved home inspection is now your roadmap. It lets the buyers know what NEEDS to be done to the house while at the same time offers the buyer a chance to do what they WANT to the house. This program incorporates NEEDS and WANTS into one program. How convenient is that?!?
Click on the link http://tinyurl.com/ovnmj8v and take 3 minutes to watch this. This program WILL grow your business as a realtor because you have more options for what your buyers ultimately want. And if you’re a buyer or even a current homeowner? Well, say hello to your dream home.
For a step by step look into the Fannie Mae HomeStyle Renovation Loan, you can read my previous blog here. If you’re one to cringe when you hear the words renovation and think, “I do not want to want to get involved” or “That kind of rehab will take too long”. Not so fast! Rest assured the renovation department and underwriter makes sure the general contract must stay on pace and complete the project in 1-6 months depending on the size of the renovation. So you can’t fail!
Green House Mortgage is a full service home loan origination entity in Tampa, FL and servicing the state throughout – We can do loans anywhere in Florida! If you have any questions regarding this article or simply need mortgage advice please call 813-732-3155 or email us at email@example.com. We are dedicated to giving you the best mortgage consultation available. Green House Mortgage – It Pays to Go Green!