How many renovation loan products do you have?
By Mike Young, FHA 203k Consultant 828-469-7462
(203kOnLine.com, covering the USA)
How many renovation loan products do you have?PrimeLending has a number of renovation products up to $1.5MM. This is important in our marketing area, SF Bay Area, South Bay - Santa Clara. Lots of homes from $750,000 - $1.5MM that exceed the FHA Maximum Mortgage Limits and include renovation money.Several calls this week for people looking for a 203k, one on a $1.2MM project and the other on a $840,000 purchase ,while FHA isn't the right loan for them we were able to help them with other similar products.We know of two lenders who go up to $3,000,000 to purchase or refinance and renovate their homes. While the FHA 203k program and HomeStyle Renovation Mortgage programs are the mainstay of our business, they just don't fit every buyer. The larger the loan amount likey will require larger ...
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