Homepath RENO Loan Questions...
I am a first time home-buyer in New York. The Homepath RENO Loan sounds perfect for me but I have a few more questions...If I find a property that needs EXTENSIVE (not light) renovation, would I qualify? For instance, if the home needs plumbing, kitchen and new bathroom renovations, would that be included? by jeshuajjj22 from Long Island, New York. May 16th 2011
Chris Corica (chris@myqcfunding.com)
#22 ranked lender in New York - 59 contributions
Hard to say but I would guess not. Homepath renovation loans indicate they are for properties which require "light to moderate work." I would advise looking into an FHA 203K loan as well.
MIKE CONVIN (mconvin)
#6 ranked lender in Delaware - 202 contributions
hi there: If the property is ready to move in then usually Fannie will consider the loan/program based on my underwriting experience.Be glad to answer any further questions. Mike
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