THE DREAM Renovate Your Next Home Like HGTV NOW

THE DREAM Renovate Your Next Home Like HGTV NOW

THE DREAM - Renovate Your Next Home Like HGTV. Now!

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Yaaas! Could you imagine...

Walking into a your new house with contrasting cabinets, mid-century modern furniture, and shiplap for days!? I sure can.


What once felt impossible, unless you had $50,000 in your pocket, now seems possible. Freddie Mac has just announced the roll out of its CHOICERenovation loan program.

Basically, you, the borrower, can apply for a single loan for the both the purchase and renovation of a new home. Just like other FHA loans some borrowers may only need to bring 3% down to the closing table.  That means on a $250,000 house you would only need to bring approximately $7500 before fees


Where the rub comes, is that they will only loan up to 85% of the finished home's market value ($85,000 on a $100,000 in-like-new condition).  However, If you or your agent have great negotiating skills you may be able to purchase and renovate a home fully funded by the program. Inquire your agent and/or lender about this loan.

Now!


Erin Bishop Headshot
Author:
Phone: 717-873-8767
Dated: June 21st 2019
Views: 402
About Erin: Erin is the Sales Director for Space and Company as well as a licensed real estate agent and experie...

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