Tuesday, July 21, 2015

FHA 203k Renovation Loans Are Alive and Well in Dixon California


While we are always doing 203k loans all over CA sometimes it is good to remind everyone that we do them in your city too. If you need an FHA 203k renovation loan or a FannieMae HomeStyle® Renovation Mortgage we do them all over the state, and all over all other states for that matter.

Dixon is a growing community with allot of homes that are getting a bit older and perfect candidates for this loan product. Any home is a candidate for these renovation products. If need to find a 203k consultant, give us a call. We can guide to to the best lenders in your area to provide a quick close.

It doesn't matter if you are refinancing or purchasing these loans should take no more than 30-35 days to close. If they do it is likely due to the borrower not providing their financial information in a timely manner. The other issue that quite often takes time is when the borrower fails to provide guidance as to what they actually want to repair.

If you are thinking about adding a  swimming pool the HomeStyle® Renovation Mortgage would be your choice of a loan program. It has always been an issue for FHA to add a pool but come September 14th the FHA 203k will be able to make repairs on an existing swimming pool without the $1,500 cap they have had since 1961. This will allow you to resurface a pool, and make any other repairs to the equipment or pool that are needed without a limit, but you still can't build one from scratch.

Who is our recommended lender of choice in Dixon CA? Tina Norman, with First Mortgage Corporation who has been making renovation loans for many years now. She is now working out of the Benicia office of First Mortgage Corporation but has been working Davis, Vacaville, Fairfield, Vallejo, and Benicia for quite a few years now and has lots of experience with these products.

Put our 203k team to work in Dixon for your client