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1. FANNIE MAE FORECLOSURES IN FORT PIERCE FLORIDA HOW TO
2. FANNIE MAE FORECLOSURES IN FORT PIERCE FLORIDA PLUS

This is where the home-buyer, contractor and consultant meet, inspections are ordered and final costs are figured into a Work Write-Up and an appraiser is sent to the property to determine as-is and after-repair values. Step 4) Work Write-Up, Inspections, Appraisal

FANNIE MAE FORECLOSURES IN FORT PIERCE FLORIDA HOW TO

Having an idea of the necessary and wish list upgrades will give your agent a better idea of how to negotiate the purchase price. It is helpful if you and your agent can meet with a contractor to discuss renovation costs about a specific property before an offer has been submitted to the sellers. It is beneficial to have your lender and real estate agent communicate ahead of time to ensure there are no misunderstandings about how to prepare purchase offer, what price range to search in and the types of eligible properties and improvements that are available for your specific type of renovation loan. Once we have an initial consultation to discuss your goals and questions, the first step is to complete a secure online loan application.Ī loan application takes 10-15 minutes at your convenience, and allows the lender to pull a copy of your credit history and submit the initial application through preliminary underwriting for the purpose of matching your unique lending scenario with all available programs that you are eligible for.Īt this point your lender can discuss actual rates, fees and program options, as well as issue a pre-qualification letter and home shopping / purchase offer instructions for your real estate agent.

The following outline highlights the process of getting a renovation loan: You can Call us directly (844) 204-2035 for any questions about renovation loans, OR CLICK HERE to submit a contact request online and we will have one of our licensed Florida Rehab Loan Network members connect with you asap. To further that goal, FHA offers favorable loan terms, higher loan limits, and flexible down payment options to qualified buyers. The 203k rehabilitation mortgage program was intended to expand homeownership opportunities and affordability while revitalizing communities and neighborhoods by providing financing for properties that need renovation work to make them livable or sellable.įHA's primary goal is to help borrowers purchase a home they may not otherwise be able to finance based on the down payment requirements of most conventional loan programs.

FANNIE MAE FORECLOSURES IN FORT PIERCE FLORIDA PLUS

Low Down Payment - Finance up to 96.5% plus upgrads.Energy Efficient Upgrades - Save on utility expenses.Increased Values - Improve the re-sale value and save money.Get What You Want - Buy a property, turn it into a home.Flexible Underwriting - Standard FHA credit guidelines.Finance Upgrades - Cosmetic and structural rehab work.Renocation loan program helps preserve or increase neighborhood real estate values, as well as create employment opportunities for Fort Pierce 203k Contractors.