Wednesday, September 22, 2010 - Article by: Carl Ashton - E Mortgage Management -
HomeStyle Renovation
HomeStyle Renovation combines home purchase or refinance with home improvement financing in one loan with one closing.
Consumer Benefits
•Finance improvements of up to 50% of the as-completed value of the renovations with a low first mortgage interest rate
•Save money by paying only one set of closing costs
•Eligible borrowers can finance soft costs and payment reserves
The HomeStyle Renovation Mortgage delivers:
Seek an affordable option to renovate or improve a home
Borrowers can finance improvements up to 50% of the as-completed value of the home with a first mortgage. A HomeStyle Renovation Mortgage typically offers lower rates than second mortgages, home equity lines, or credit card debt.
Value efficiency
A HomeStyle Renovation Mortgage requires only one closing and underwriting review, saving the borrower money and time.
Need flexibility
Borrowers can use funds for any repairs or renovations as long as the improvements are permanently affixed to the property and add value. Soft costs and contingency reserves also may be financed.
For more about a HomeStyle® Renovation Mortgage
thru Fannie Mae.
Contact us
Carl Ashton
Mortgage Banker
1605A Prosperity Farms Rd
Lake Park Florida 33403
Phone: 561-210-3000
Fax: 561-624-1764
premiermortgagestore@live.com
Our websites:
www.premiermortgagestore.com
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