It’s a common misconception that renovation loans are intended ONLY for run-down and dilapidated properties or those in need of repair. The truth is that renovation loans can be utilized for a number of different reasons, including to make upgrades to older homes.
No one knows but at some point the Fed will have to sell off mortgage-backed securities and that will increase interest rates.
If you are interested in items that FHA does not allow, like a swimming pool, detached garage or gazebo? We can help. One application. One closing. One set of fees. This is the Fannie Mae Homestyle Renovation loan, which allows you to perform all of the same renovations as with the FHA 203(k) loan, but without all of the limitations the FHA guidelines has.
The loan limits on Conventional & VA loans were increased from $417,000 to $424,100 on a 1 unit property in Broward, Palm Beach, & Miami Dade Counties.
