I love when I hear from clients during their home renovation process! Check out this client’s before photos and see the incredible transformation to the home during its current renovation. I can’t wait to see the final project. A photo really speaks a thousand words and this home was certainly a diamond in the rough!...Read More
As we have been taking a closer look at home renovation projects and the overall processduring the past few months, let’s now look at the FHA 203k home renovation loan that you canobtain to finance your home renovation project. Most people are familiar with the FHA 203k home renovation loan as it is a program...Read More
Looking to purchase or refinance a home that needs some TLC, but don’t have enough insavings to take on such a home rehab project? Home renovations, big or small, have never beeneasier with a home renovation loan. Learn how a HomeStyle home renovation loan can turn ahouse into the home of your dreams. A HomeStyle...Read More
Stages of a Home Renovation Project In the first series of our Bridgeport Project, we looked at reasons why home buyers are choosing to leave the suburbs and settle in hot new neighborhoods like Bridgeport, Chicago. Many of these home buyers are considering home renovation rather than buying a turnkey home. In this installment, we’ll...Read More
Is Bridgeport the Hot New Neighborhood in Chicago? Revitalization of neighborhoods, convenient transportation, and the accessibility to exciting food and entertainment are some of the many reasons people are choosing to stay in the city of Chicago. In addition, companies are leaving the suburbs and heading back to the city. People now have more options than ever...Read More
Case Study – Home renovation on Hollywood Street – Chicago, IL Project in Brief 203k Renovation Loan Program Project Duration 5 months Purchase Price $139,680 Total Loan Amount $409,680 Home Size: 2,500 SF Overview: This home was court ordered to be demolished by the City of Chicago. The borrower found this property and wanted to purchase...Read More
Case Study – Home Renovation of Chicago Condo – Interior work only – Chicago, IL Project in Brief HomeStyle Renovation Loan Program Project Duration 3 months Purchase Price $287,000 Renovation Costs $109,681 Total Loan Amount $357,000 Home Size: 1527 Sq. FeetAppraised Value After Home Renovations Completed: $398,000 Overview: Outdated, vacant Buena Vista condo sold in “as is”...Read More
Case Study – Clay Avenue, Kirkwood, MO Project in Brief HomeStyle Loan Program – Complete renovation and addition to 1926 original home Project Duration 3 months Purchase Price $230,000 Renovation Costs $143,301 Size: From 1456 SF to 2,000 SF Overview: Removal and replacement of entire back deck/patioRemoval of interior walls allowing for open floor plan and...Read More
In an effort to help home owners create the home of their dreams, Fannie Mae has introduced the HomeStyle Renovation loan. The HomeStyle loan is Fannie’s version of a construction/rehab/renovation loan, with flexible down payment requirements and lending guidelines. Guaranteed Rate wants you to know—whether you’re purchasing or refinancing—how HomeStyle can help you renovate your...Read More
Choosing a 203k loan for major renovations is a great way to give your home the look and feel you’ve always desired. This project utilized the 203k streamline renovation loan program to achieve a simple yet functional kitchen renovation. Contractor worked with the client and various subcontractors to select finishes and cabinet layout that integrated...Read More
