How To Get A Home Loan To Buy A Fixer Upper In Phoenix
How To Get A Home Loan To Buy A Fixer Upper In Phoenix
Have you wondered how to get a home loan to buy a fixer upper in Phoenix?
You can get a Fannie Mae HomeStyle Renovation home loan and combine the cost of the home purchase with the renovation or remodeling costs and finance it all with one loan. This process is simpler than you imagine.
Why pass up a house that needs a little updating when it may be the right home for you?
We have all see homes that have “good bones”, maybe a great location and with a great yard. However, the house needs to be updated to make it your dream home. Perhaps the house needs new flooring, or bathroom and kitchen updates. Perhaps the house needs a new HVAC unit or water heater. You may have money for a down payment and your closing costs, but the budget doesn’t include renovation as soon as you move in. How do you buy a home and get the renovations you want to be done when you don’t have thousands of dollars to complete the updates for years?
I recently helped a young couple buy a home in their target neighborhood. They wanted a larger home on a larger lot but did not want to change their children’s schools. The home prices for updated homes exceeded their budget. When we found a great home for sale which needed updating in their desired community, I knew this loan would get them their dream home AND allow them to make the updates THEY wanted.
With the Fannie Mae HomeStyle Renovation loan, they were able to knock down walls, updated bathrooms, put down new flooring throughout and added a new HVAC unit. These renovations were completed immediately after they closed on the sale of the house and BEFORE they moved in!
Completing renovations is a great way to add immediate equity to your home while getting the exact updates that are important to you.
This process is easier than you would expect. You obtain bids from a licensed contractor(s) to detail the renovations you want to make to the house. The list of renovations is submitted to your lender. The appraiser is sent by your lender values the house based on the purchase price plus the proposed renovations. He or she appraises the house based on the completed renovation.
Whether you are a first time home buyer or moving up to a different home, the Fannie Mae HomeStyle Renovation mortgage may be for you! Buyers love the idea of completing renovations before moving in to avoid the hassle of living through all the remodeling
I work with the best lenders who will walk you through this process so you can decide if the mortgage program is for you. Like all loan programs, this is subject to change without notice. Underwriting terms and conditions apply along with some restrictions.
Contact me today to find out how you can get a great home updated to your taste and lifestyle. Find out how to get a home loan to buy a fixer upper in the Phoenix metro area.
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Author:Shirley Coomer Phone: 602-770-0643 Dated: April 30th 2017 Views: 52 About Shirley: ...
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Shirley takes a different approach to buying and selling Real Estate in the Phoenix area. She uses a consultative approach. The Real Estate industry has become more sophisticated and challenging every day, so you need a professional that understands the industry, market trends, and technology.
If you are selling your home, Shirley constantly researches the market and property values so your home is priced correctly from day one. She also makes sure the public knows your home is for sale by using a wide range of internet marketing strategies, knowing 95% of buyers start their search on the internet.
If you are buying a home she uses this market knowledge to ensure your offer will be received by the seller as fair and compelling. She will ensure you understand the home buying process from start to finish!
Prior to real estate, she spent many years in the corporate world in technology, finance and project management, all well suited to today’s real estate market. She draws on this experience to fuel her passion to provide excellent customer service in each and every transaction. She also recognizes that buying or selling a home is very stressful and involves one of the largest financial transactions most of us will ever make. She uses her wealth of experience to manage through all the activities necessary to complete the deal in a way that keeps her client and other business partners well informed and on point to ensure the transaction moves smoothly to completion.
Integrity, honesty, excellent negotiating skills, and just plain hard work along with excellent communication and listening skills enable Shirley to consistently deliver on her customer service promise. Her goal is to exceed buyer and seller expectations by being proactive throughout the transaction.
When selling a house with pets, you need to look at your house like bu
"My husband and I have worked with Shirley on multiple occasions. She has helped us short sale our house when the market crashed and helped us find a beautiful house shortly after.
We gained so much equity in that house we decided to sell and find a new one. Shirley was there for the rescue once more and saw us through it. We had several difficulties and endless streams of texts and emails along the way. She was always there to answer our questions and ease our minds.
She has helped our family members with their realty needs as well as close friends in the sale and purchase of their homes.
We recommend her, hands down to anyone looking for somebody who can get the job done. Her experience, honesty, and knowledge of the business is what keeps us coming back.
She is the realtor for you. "