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 was very helpful throughout the entire process. He and his team were easy to work with and always very responsive. Would recommend for any mortgage process.
Jill Finney
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!!!
Rebecca Vanderhoof
I worked with Travis on the sell side of a deal, buyer panicked a little midway through the deal which would have thrown a domino of deals in the toilet. Travis was able to talk to the buyer, reassure them and help with some loan adjustments to make it work. That is the type of lender Realtors want to work with!!
Whitney Shoffner
Travis was great to work with! He answered all my questions and helped us get to closing quickly! Highly recommend!
Brittany Kiger
From one business to another… Travis and team are wonderful.
Executive Assistant
Travis was always available for questions and helped break down the steps of the process in a way that was easy to understand. I appreciate his time and expertise during our experience.
