Renovation Mortgage Comparison
When it comes to renovation financing, we offer many different loan options for home buyers and homeowners. The Renovation Loans, FHA 203k streamline, & the Fannie Mae Homestyle all have different benefits and pitfalls to them. Not to mention you put the PowerSaver Grant option in there to further complicate things. The chart below compares some of the differences between the programs. The renovation loan process is pretty much the same regardless of which loan program you go with. Mortgage options can be complicated and when you throw repairs into the mix its even more confusing. Give us a call today and we’ll work with you to explore all your options.
| Conventional | Conventional Investment | FHA 203K | USDA RD | VA (for Veterans) | |
|---|---|---|---|---|---|
| Primary Residence | |||||
| Multi-Family Home (2-4 Units) |
|||||
| Second Home | |||||
| Upfront Mortgage Insurance Fee | 1.75% upfront (can be financed) | 1% upfront (can be financed) | Varies | ||
| Minimum Down Payment | 5% | 20% | 3.5% | No down payment option | No down Payment Option |
| Gift Funds | |||||
| Structural Repairs | |||||
| Home Addition |
Latest Blog Post
2022 Webinar and Live Event Calendar
Each year we try and bring relevant education topics to real estate professions. Below you will find a list of the topics we plan to cover and dates for each. For each topic we are offering a Live event at the Greater Kalamazoo Association of Realtors and a Zoom Webinar on the same topic the following week. As the events get close we will have more details just follow the links to learn more and register for the events.