Superior Property Inspection Services - Home of InfraRed Pros Thermography services
Looking to purchase a less-than-perfect house and make it your dream home?
Tiered of your current home and looking to renovate?
Are you worried about who to hire to make your dream come true and avoid a nightmare?
We can help!
We are FHA renovation consultants with outstanding client services. Our team will guide you throughout the entire process from start to finish and work with your loan officer and your contractor to ensure your dreams come true!
An FHA 203k renovation loan provides borrowers with a financing solution that combines the purchase of a home with the cost of improvements and repairs.
Homestyle Renovation loan is flexible program for conventional renovation that enables borrowers to buy a home in almost any condition. It can be used for primary occupant, second home and even investors.
Poplar option in the last few years are Conventional or bank financed construction projects. Whether an existing property or a new construction this type of loans requires project management and assets distribution controls.
An FHA 203k renovation loan provides borrowers with a financing solution that combines the purchase of a home with the cost of improvements and repairs. Several type of loans are available and a consultant is required for most of them.
General FHA 203k Highlights
There are two (2) 203K loan types, a Full 203k and a streamlined 203k loan.
On a streamline 203k loan there is no consultant required (but you can still opt to use one), the limit of the renovation is $35,000 and you cannot preform any renovation that involve architectural design changes, structural work etc.
The Full 203K is intended for more involved projects that involve structural changes to the home that would prevent owners from occupying the home. This option is also used if engineering or architectural drawings and inspections are required.
Repair Amounts for a 203K can start as little as $5,000 and range up to the national limit set for your specific location.
Our professionals can help you obtain everything you need to secure the needed financing for your project.
A Homestyle Renovation loan is flexible program for conventional renovation that enables borrowers to buy a home in almost any condition. It can be used for primary occupant, second home and even investors.
Homestyle can be used on any home, not just FNMA properties.
A HomeStyle Renovation loan allows buyers to make home improvements based on the “after-repair” value of a property, eliminating the need for a 2nd mortgage, home equity line of credit or other expensive financing. Homestyle can also alleviate the need for curing property conditions that may prevent financing in the first place.
Financing properties in “as in condition” and repair after closing can be made easier with this type of loan.
Borrowed funds can be applied to any renovations or repairs that are permanent fixtures and increase the value of the property.
Home buyers, investors, second home and vacation occupants are all eligible to apply.
The Homestyle renovation loan is perfect for renovating properties with poor conditions that make them ineligible for conventional financing. Such conditions might include and safety or health hazards, and practically any livability issues the homeowner would like to upgrade. Improvements could encompass such things as floor coverings and other finishes, along with new appliances for the dwelling.
There are no limits on the dollar amount for repairs with a HomeStyle Renovation Loan, and there are no exclusions for luxury options such as tennis courts, outdoor kitchens or swimming pools. The renovations can be structural or increase the footprint of the home’s dimensions. This loan type can be applied to any home, not just foreclosed properties.
Some key benefits are:
whether hard money and bank financed, we provide you consultation from start to finish. We help price the project, select the right contractor, scope out materials and supervise the progress until completion.
We serve as YOUR eyes and ears on the ground making sure your timelines are met
Scope of work - Our consultant will evaluate the property and will prepare a feasibility analysis providing you with a rough estimate on cost for repairs.
Our report follow the outlines mandated by FHA and will detail work needed to be done to bring the project to completion and obtain Certificate of Occupancy (CO)
With our expert advise and scope of work, selecting the right contractor for the job is made easy. We will assist in contractor selection, review of contractor bid pricing and final negotiations so you know you have an expert on your side who understand your needs and know the project details.
Our team will be your eyes and ears on the ground providing you with the overview you need on the project. We will inspect each stage and report on progress and quality of work making sure the timeline of the project is strictly enforced.
When it is time to pay the contractors, whether it is for materials purchased or job preformed, our consultants will provide a report detailing the process and check to make sure everything was done according to plans and that no money is being released for work or material that are not within the scope of the project.
It is our goal to ensure your project is done and completed in the manner in which you have expected it to be.
From design to final product - we support you through the entire process.
Are you in a process of getting a renovation loan? Not sure what you can or can not do?
Are you a loan officer looking for a consultant to rely on or even a contractor who is looking to to get more information about the program?
Contact us and we will be happy to speak with you and help you though the process.