Understanding Rehab options from FHA 203K, to Fannie Mae HomePath, Fannie Mae HomeStyle and beyond
4 Clock Hours
Today, buyers are ready! But in some market areas, listings in move-in condition are receiving multiple offers. One option for frustrated homebuyers is to consider purchasing a home with deferred maintenance and choose a renovation loan where the home is appraised on what it will be worth after the work is complete and the renovation costs are rolled into the loan.
We are still in a housing cycle that contains many financially distressed homeowners who would like to sell but their homes have deferred maintenance. Renovation lending allows homeowners to refinance and make the changes future homebuyers want to see when the home eventually goes on the market: New roof, paint, carpet, windows, and so forth.
In this course real estate brokers will learn how to identify, evaluate and present the immense value in distressed and bank owned properties for homebuyers and help cash flow-strapped home sellers understand options for getting the home in shape to sell at top price. In this class we will learn about the following and more:
- FHA 203K, FHA 203K Streamline
- Fannie Mae HomePath and Fannie Mae HomeStyle Renovation
- Renovation options for USDA, VA, Jumbo, and Hard Money
- Making Sense of the All the Numbers, Troubleshooting, and Case Studies