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 More

                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),…

Read More

So we’ve discussed conventional and FHA mortgages, but an important type of FHA mortgage is the FHA 203k mortgage. The FHA 203k mortgage was created to help people buy houses which need repairs. Prior to the 203k loans, lenders were becoming increasingly strict when it came to lending on a house which needed work. But with the advent of this new FHA…

Read More