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
Travis was fantastic to work with! Great communication! Paperwork finished in a timely manner. Great experience for buying my first ever home!!
Stacie McConnell
Travis was excellent! Responded within minutes whenever we had questions, even after hours! He made the whole process as fast and easy as it could possibly be. Very professional and friendly. Working with Travis was like working with a friend, very open to answering questions and explaining the details every step of the way. Would recommend 100%! Don’t buy a home without Travis Bell!
Cody Legg
Travis is so top notch! From the first call he has gone above and beyond. Answered every question, email, text; and in a timely fashion. His knowledge and expertise has been tremendous and he is so supportive, professional, and patient. Would definitely recommend him (and will) to everyone who needs a home loan.
Tammi Harrington
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
We had a great experience with Travis and his team! After having problems with our previous lender he was able to make a fast turn around so we could close on time. Highly recommend!
