First Mortgage Blog



----------------------------------------------------------------------------------------

Fannie Mae HomeStyle®

The Fannie Mae HomeStyle program, enables borrowers to either purchase or refinance their home while including rehabilitation costs in the same loan. This program offers the borrower the ability to finance the cost of a rehab project ranging from a simple remodel through structural improvements and upgrades including luxury items.

  • Up to 95% LTVof After Improved Value
  • Credit score as low as 620
  • Owner occupied 1-4 units, condos, SFR, PUDs, second homes and investment property
  • No minimum repair amount
  • Use for improvements to out-dated homes, structural deficiencies, additions and expansions. Upgrade bathrooms, kitchens and outdoor living space; including built-in outdoor kitchens, BBQs, fireplaces and swimming pools.
  • A HUD Consultant or Licensed Construction Inspector are required for inspections and can help the project run smoothly.
  • Improvements must be permanently affixed to the real property and add value to the property

Forum Mortgage Bancorp offers a variety of simple, affordable financing options designed to meet the needs of our clients.  Forum's nationwide resources, local knowledge, personal attention and service are the hallmarks of our business. Call us today and we'll help you take your business to the next level.

Programs neither originate from nor are expressly endorsed by any government entity.


Call me to get started today.

773-449-6364

 

Thank you for your continued partnership.

Dennis O'Donoghue

Sr. Mortgage Consultant

Posted by Dennis ODonoghue on August 31st, 2017 12:21 PM