Renovation
Loans
HomeStyle
- Max loan amount $766,550
- Owner occupant, second homes and investment properties
- Condos, one to four units allowed (manufactured homes not allowed)
- Renovation costs up to 50% of the after improved value
- Incomplete properties when the builder went out of business allowed
- No restrictions on improvements (must be permanently fixed to property and add value)
- Contingency reserve is allowed from out of pocket
FHA 203K
- 3.5% minimum down payment requirement
- Maximum loan amount of $498,257
- Upfront mortgage insurance premiums financed into loan
- Monthly mortgage insurance premium
- Existing homes eligible
- Seller concessions 6%
- Condominiums may be eligible, must be on FHA approved list
- No income limits
- No minimum on renovation costs
- Gifts and DPA’s allowed
You can do any repairs or improvements to the home with a minimum amount of cost of $5,000. There are no limits as to the amount of the rehab costs as long as the total acquisition costs do not exceed the maximum FHA loan limits.
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What Our Clients Say
Trusted by Many, Loved by All
Working with Travis took all the pain away when you’re buying a new home. Not only was he quick to respond, and thorough, but his character says a ton about the person he is. This man went above and beyond for me and made my cross country move a whole lot easier. Would absolutely recommend to anyone looking for buy or refinance!! 10/10
A V
Travis and the team at USA Mortgage were super friendly and professional and patient in answering all my questions. They made what could have been a very stressful situation easy and stress free. I highly recommend using Travis Bell and USA Mortgage!
Michelle S
Travis and his team were just amazing to work with when purchasing our home. We are first time homebuyers and they walked us thru each process. They are very professional, kind and communicate so quickly. They were able to get us closed on our first home and we couldn’t be more thankful!!
Diana Gidenko
Travis was amazing to work with. We just bought our first house and it has been a process as I had a few things to take care of first. Travis helped us through the whole process and never got tired of my millions of questions. He was very responsive and really cared about helping us get into the house we wanted. I would 1000/10 recommend working with Travis.
Amanda Morris
I couldn’t have asked for better folks to work with in getting my home loan. Travis and Victoria were both extremely professional and kept me in the loop on what I needed to do all the way through.
Jared Green
Travis was amazing, we started talking 7 months ago and he told me then we would have a home. He held up to his end. He is very easy to talk to and get ahold of.