Renovation Lending
Buy Your Michigan Fixer-Upper: New FHA 203(k) Updates Mean BIGGER Renovations & Easier Financing!
Hello, Metro Detroit and Michigan homebuyers! There’s some great news from the U.S. Department of Housing and Urban Development (HUD) that could make your dream home even more affordable and easier to renovate. HUD’s latest Mortgagee Letter 2024-13, which goes into effect on November 4th, 2024, brings updates to the 203(k) Rehabilitation Mortgage Insurance Program,…
Read MoreLuxury vs. Necessity: What FHA 203(k) & HomeStyle Loans WON’T Cover in Metro Detroit
Embarking on a renovation journey with FHA 203(k) or Fannie Mae HomeStyle loans can be an exciting prospect for homeowners in Metro Detroit and Michigan. These loan programs offer the opportunity to transform properties into dream homes. However, it’s essential to understand which renovations are ineligible and eligible under these programs to avoid any…
Read MoreBeyond Basic Repairs: What You CAN Do with FHA 203(k) & HomeStyle Loans (Michigan Expert Explains)
Embarking on a renovation journey with FHA 203(k) and Fannie Mae HomeStyle loans opens up a world of possibilities for homeowners in Metro Detroit and Michigan. These loan programs offer the flexibility to finance a wide range of improvements, allowing homeowners to transform their properties into dream homes. In this blog post, we’ll explore the…
Read MoreFrom Fixer-Upper to Dream Home: Hiring the Best Contractor for Your Metro Detroit Renovation Mortgage
Embarking on a renovation project in Metro Detroit, Michigan, whether it is a new purchase or a refinance to include renovations, can be an exciting endeavor, but it also requires careful planning and execution. One crucial aspect of the process is selecting a contractor who is not only skilled in their craft but also familiar…
Read MoreBeyond Basic Remodels: FHA 203(k) vs. HomeStyle – Which Loan Fits Your Michigan Renovation Vision?
Exploring Fannie Mae Homestyle Renovation Loan vs. FHA 203(k) Loan: A Guide for Homebuyers in Metro Detroit, Michigan For homebuyers in Metro Detroit and across Michigan, the dream of owning a home that perfectly fits their needs often involves considering properties that require some renovation. In such cases, financing options like the Fannie Mae Homestyle…
Read MoreSmall Updates or Big Transformations? Understanding FHA 203(k) Loan Options in Michigan
Understanding FHA 203(k) Full and Streamline Loans: A Guide for Homebuyers in Metro Detroit, Michigan For homebuyers in Metro Detroit and across Michigan, finding the perfect home often involves considering properties that need a little TLC. Fortunately, the FHA 203(k) loan program offers two options—the Full and Streamline loans—that…
Read MoreThink You Can’t Afford a Fixer-Upper? These 5 Renovation Loan Myths Are Costing You Opportunities in Metro Detroit
Renovation lending has gained popularity among homebuyers in Metro Detroit and across Michigan as a means to purchase homes in need of renovation and transform them into personalized spaces. However, there are several myths and misconceptions surrounding renovation lending that may deter potential buyers from exploring this…
Read MoreIs a Renovation Loan Right for You? The Pros and Cons for Metro Detroit Homebuyers
For homebuyers in Metro Detroit and across Michigan, finding the perfect home that meets all their needs can sometimes be an immense challenge. However, with the option of renovation loans, purchasing a fixer-upper and transforming it into their dream home becomes a viable possibility. Fannie Mae (Conventional),…
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