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
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!
M Benton
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 was great to work with! He answered all my questions and helped us get to closing quickly! Highly recommend!
Brittany Kiger
Travis was great. Helped us through all the hurtles. Several times, unexpected things came up, he had a way figured out for us, Couldn’t be happier! Recommend Travis to anybody
Michael Williams
Travis and his team have been so great to work with! They have been supportive throughout the entire journey and have always been quick to answer every question along the way. As first time home buyers, it’s been wonderful to have such positive people to work with.
Erin Porter
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.