Thursday, April 16, 2015

Nice House But the Colors Are All Wrong



By

To each his own. I see this all the time where the buyer and a complete different idea of what "looks good" on a home. Did you know you can do a streamlined k (soon to be renamed Limited 203k) and just do painting if that is all that it needs?

The Limited 203k (we may as well start getting used to it) is great for those small repairs projects or simply changing the floor coverings, or repainting the interior or the exterior or both.

When the repairs are non structural and the cost of those repairs doesn't exceed $34,200 it may be a simple solution for your clients. What? Did I hear someone say their clients is putting 20% down and has great credit? In that case use the FannieMae HomeStyle® Renovation Mortgage which works just like the FHA 203k but has no PMI requirement when putting down 20% or more.