Sd203k

Today, many homes listed for sale are in need of serious repairs or remodelling. Many buyers pass the opportunity to buy a home at a bargain price as they do not have the funds available to do the repairs. This scenario makes it perfect for San Diego Renovation Loans . What is a renovation loan? Renovation loan allows the buyer to take the benefit of bargain purchase by blending the cost of home with the renovation or remodelling costs all in one loan. Types of renovation loan in San Deigo 1.         Fannie Mae Homepath renovation loan: The Fannie Mae homepath renovation loan is a special loan offered on Fannie Mae foreclosed properties. The loan is no mortgage insurance and the buyer can use this program on an owner occupied or investment property. 2.         FHA 203K renovation loan: This loan allows repairs up to 50% of the loan amount. It is usually used for major repairs and mortgage payments may be financed into loan if the house is uninhabitable. 3.       FHA 203K streamline: It