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.
Mortgages Made SIMPLE
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What Our Clients Say
Trusted by Many, Loved by All
Travis Bell was very easy to work with, he was very informative and kept us completely up to date with anything we needed and fulfilled any questions we had. I 100% recommend him and USA Mortgage to help with a loan. They made the entire process as smooth as possible.
William Brazeal
My wife and I had a fantastic experience with Travis at USA Mortgage. He made the process easy and seamless and was more helpful than I can express. I would recommend him to anyone who is looking for a house and a loan. I cannot suggest him enough!!!
Stephen Alexander
Inspire of a lot of complications and my emotions that did get the better of me, Travis and his team still performed and managed to make everything fall together!
Hailey Davidson
Travis was absolutely awesome to work with and I look forward to dealing with him in the future! Made everything so simple and understandable for me! Thank you!
Brandon Knight
Travis was great and was available to answer my questions in a respectful and timely manner. Was new to buying a house and felt at ease dealing with Travis and his group.
Craig Fischer
Travis Bell and his team are great! They got my house for me and it wasn’t an easy one! Thanks to Travis and Victoria!!!