Tuesday, February 3, 2015

203k Loan Limits Don't Go High Enough for My Neighborhood

By
Home Inspector with 203kOnLine.com, covering California & most other states S0289

I'm afraid that is the harsh reality in many neighborhoods. What then, is the answer where the homes in my area are selling in the $1MM to $3MM or more. All is good with another renovation product that is available and our group consultants for that as well. This is just another reason that you should chose a "team" to close your loans faster.

The parameters for the loan I'm referring to will be disclosed mid February but you can start inquiring right now. This lender loans in all fifty states and the permanent loan includes renovation money. The maximum loan amount is $3,000,000 and of course there is a higher LTV required so you could be buying a home in the $4-5MM range including renovation costs and with your down payment your loan amount would top out at $3MM.

Get your renovation loans with one of our Team Members.