This has to be one of the most usefull financing tools for both Sonoma County Real Estate owner occupants and Investors alike. Simply put, it allows a borrower to fold in the cost of renovation up front into the loan. It is limited to 35,000 and can include almost everything from carpet and paint to electrical and plumbing. What it doens’t include are additions or structural items but roofs are. The idea here is to make a
Sonoma County foreclosed property livable. The one big difference between a Homepath and Homepath Renovation loan is that there is an appraisal required in order to justify the improvements for the Renovation loan. There is still no Mortgage Insurance required. Owner occupants borrower still put down just 3% of the total of purcahse price and renovation costs. Investors are only required to put 15% down of the total and they can finance up to 20 properties provided they meet guidelines.
This is a tremendous mortgage financing tool for anyone looking to purcahse foreclosure proeprties. If you would like more information I would be happy to provide it to you. Please contact me at 707-431-9715 or at hunt.conrad@prospectmtg.com. you can also fill in the info requested boxes at the bottom of the page.
Incoming search terms:
- homepath renovation rates
- difference between homepath and homepath renovation
- current home path renovation rates
- homepath renovation loan
- renovation loan difference
- upfront cost homepath renovation
- what is the differance between home path and hompath renovation
- what\s the difference between a homepath laon and a homepath renovation loan
