THE DREAM - Renovate Your Next Home Like HGTV. Now!
Yaaas! Could you imagine...
Walking into a your new house with contrasting cabinets, mid-century modern furniture, and shiplap for days!? I sure can.
What once felt impossible, unless you had $50,000 in your pocket, now seems possible. Freddie Mac has just announced the roll out of its CHOICERenovation loan program.
Basically, you, the borrower, can apply for a single loan for the both the purchase and renovation of a new home. Just like other FHA loans some borrowers may only need to bring 3% down to the closing table. That means on a $250,000 house you would only need to bring approximately $7500 before fees
Where the rub comes, is that they will only loan up to 85% of the finished home's market value ($85,000 on a $100,000 in-like-new condition). However, If you or your agent have great negotiating skills you may be able to purchase and renovate a home fully funded by the program. Inquire your agent and/or lender about this loan.
Author:Erin Bishop Phone: 717-873-8767 Dated: June 21st 2019 Views: 245 About Erin: Erin is the Sales Director for Space and Company as well as a licensed real estate agent and experie...
We are very excited to present SPACE & COMPANY, a boutique real estate brokerage dedicated to re-thinking real estate in Center City , Philadelphia. Our business model, characterized by a commitment to our local community, green living and technology, provides a unique perspective for our clients and agents. Educating our agents on quickly changing market trends and supporting their use of the latest technological tools is a priority.
At SPACE & COMPANY we continue to embrace our forward thinking, results-oriented marketing. Things have changed drastically for the real estate industry in the past few years. Given this, we are not content to provide the status quo – we will continue to strive to be a step ahead, offering creative solutions that speak for themselves.