renovation: FannieMae HomePath Renovation - Baltimore, MD - 06/23/11 01:08 AM
FannieMae HomePath Renovation - Baltimore, MD
 
 
I specialize in these loans... Great product!  Easy Steps!
 
1.  Go to www.homepath.com      -   Find a home you may be interested in???
2.  Call Brent 1st!   DON"T CALL THE AGENT ON THE SIGN!    -    Lets see if you qualify for the mortgage AND get your the PROPER representation.
 
3.  Decide - Submit an offer?  Great!   Make the offer CONTINGENT on a 10-14 Day Inspection Period (this will allow you to find just what is wrong with the property or maybe what you want to fix!)
 
4.  Find your Contractor … (1 comments)

renovation: Brent Kluge - Client testimonial - Honesty / Integrity / Transparency - 06/13/11 01:30 AM
Kassell Gause - Client
HI BRENT,THIS E-MAIL IS SENT WITH TEARS OF JOY! WOW,YOUR TIME AND LABOR HAS BEEN GRACEFULLY APPREICATED I WILL TELL THE WORLD ABOUT U. ME AND MY FAMILY ARE DELIGHTED 2 HAVE MET A TRUE AND COMPASSIONATE MAN OR AS OF THIS MOMENT,MAY I CALL U (MY FRIEND) WORDS WILL NEVER EXPRESS HOW I AM FEELING AT THE MOMENT OF BECOMING A 1ST TIME HOME BUYER. NOW I DO BELIEVE IN ANGELS THANKS BRENT! THANK U AGAIN! PEACE!
 
Kassell Gause
katty14@verizon.net
(1 comments)

renovation: FannieMae HomePath Lender - California - Lowest Rates - Easy Application - 06/09/11 03:56 AM
 
FannieMae HomePath Foreclosures - California I am with the ONLY lender allowed to do the HomePath Renovaiton Loan in ALL 50 STATES! We Specialize in them!
LOWEST BANK FEES:   $855.00   Maximum and sometimes LESS! FAST Settlements! Easy Application - Online Same Day Approvals
Its all FREE!
Click or Call:  424.242.9895
 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(0 comments)

renovation: FHA 203k - Refinance - Renovate - Relax - 05/27/11 12:01 AM
Refinance-Renovate-Relax... 
 

 
FHA 203k might be the way to go!
 
 
 
For those homeowners that have a boatload of equity in their home and would like to capture some of it in order to add an addition on their house, the best situation would be a Home Equity Loan or even a conventional cash-out refinance (with no mortgage insurance).  But the vast majority of the people in the U.S. today don't have that much equity, especially due to real estate's declining values.  What are their options?
 
 
 
FHA 203K Refinance!
Appraisal is based … (1 comments)

renovation: Testimonial: Nelson H. Bayne, Mortgage Compliance Officer/CRA - 05/18/11 03:56 AM
Nelson H. Bayne, Mortgage Compliance Officer/CRA St. Casimirs Savings Bank is one of the strongest community savings banks in the United States. Unfortunately our strength does not allow us to offer the creative renovation programs which Mr. Kluge, represents and offers to his customer base. We refer our customers to Mr. Kluge, when their request for financing and financial services requires renovation financing. I suggest you consider his expertise to coordinate your construction/renovation needs.
 

 
Nelson H. BayneMortgage Compliance Officer/CRA nbayne@stcasimirssavbank.com
(0 comments)

renovation: FannieMae HomePath & Renovation Loan - FRAUD Reporting - 05/17/11 02:44 AM
So...  FannieMae has a select group of Lenders that are authorized to do the HomePath Loan.  It is very easy to see who these lenders are by going to:http://www.homepath.com/financing/index.htmlThere are VERY FEW lenders directly authorized to do the FannieMae HomePath RENOVATION LOAN... FannieMae is quite selective who they will allow for this product.  This is easy to search as well:http://www.homepath.com/financing/renovationlenders.htmlHerein lies the quandry:  There are many experienced Renovation "Expert" loan officers around the country that can help you with your renovation loan.  If, however, these Loan Officers/Companies are advertising that they have the FannieMae HomePath Renovation Loan and are not on … (9 comments)

renovation: Fannie Mae HomePath Renovation Loan or FHA 203K? - 05/12/11 10:54 AM
Fannie Mae HomePath Renovation Loan or FHA 203K?
This is a popular question in the renovation finance world: Am I better off with a Fannie Mae HomePath Renovation Loan or an FHA 203K? The answer is quite personal. You must take into account your personal finances, the project requirements, and type of home, among other issues. I will highlight here a few of the main items for your consideration.
 
Consider the Source: Everyone is selling something, right? So if your lender is pushing the FHA 203K instead of the HomePath Renovation loan, make sure he even HAS the ability … (0 comments)

renovation: FannieMae HomePath Renovation Financing - An AMAZING Product for ALL! - 05/09/11 11:39 PM
So, you found your way to the FannieMae foreclosure website ( www.homepath.com) and also found the litany of properties in your area.  You go through the properties, just like any home shopper would, checking the bedrooms, baths, what the kitchen looks like and how about that back yard!  THIS seems like the ONE! 
 
Then you see this:

What is HomePath Renovation Mortgage?  You click on the HomePath Financing and find that almost EVERY lender can write a HomePath mortgage, but only a very select FEW can do the HomePath Renovation Mortgage.  Some states have only 2 Lenders FOR THE … (0 comments)

renovation: FannieMae HomePath Renovation Lender - ALL 50 STATES!! Specialist - 05/02/11 11:25 PM
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renovation: Fannie Mae HomePath Renovation Loan - An Honest Lender - All 50 States - 03/20/11 11:42 AM
Fannie Mae HomePath Renovation Loan - An Honest Lender - All 50 States Brent Kluge & www.HomePathworld.com bring you a brief video introduction to the Fannie Mae HomePath Renovation Loan.  Please subscribe to video and perhaps click 'Like', so we may continue to bring you these helpful and informative videos!As always, if you have any renovation finance questions, we are one call away!
Brent Kluge
PrimeLending
 
 
(0 comments)

renovation: Fha203K Streamline: Make Sure you get 50% of your money UPFRONT! - 10/20/10 12:25 AM
So, you've worked hard to put this entire thing together.  YOU FINALLY ARE GOING TO SETTLE ON THE PURCHASE OF YOUR NEW HOME and do a renovation with your FHA 203k.
 
1.   You spent hours on site with various consultants, contractors and inspectors to determine the scope of work.
2.   You and your agent crafted a perfectly written CONTRACT OF SALE and had it ratified.
3.   You supplied your lender with everything under the sun, Including, but not limited to, your blood type, hair and DNA samples.
4.   You are ready to settle and start your project... Right?  :)
 
(1 comments)

renovation: 203K: Why is it so difficult to find a contractor to do this 203k? Answers within... - 09/16/10 11:43 PM

By and large, Contractors are a tradesmen, some better businessmen then others, but nonetheless, the primary need is for them to be good at what they do, their trade.  When we, as comsumers/homeowners, need to find a contractor to do a renovation job for us and we utilize the FHA 203k loan progam, it can be quite difficult to find a contractor that is qualified or even interested in doing this work!
Below are some items that will help you understand why and perhaps help clear up this disconnect and bring you to understanding during your contractor interview phase.
 
(18 comments)

renovation: FHA 203k - What to do with the initial HUD inspection... - 09/01/10 09:58 PM
Initial inspections by the HUD consultant can sometimes be overwhelming...   "Seems like a lot more work than we expected!"...  This may be the case... but not always.
 
Remember, this estimate is just that ..  AN ESTIMATE!  If you find a contractor that has given you a price, OR you take the Consultants Work Write-up and start shopping for a contractor, here is the million dollar savings key...
 
YOU DON"T HAVE TO SHOW THEM YOUR HUD CONSULTANT'S NUMBERS!!
 
Have the Consultant give you a copy, sans el numbres (sp.????).  If they don't do that, just white out the numbers … (1 comments)

renovation: 203K Guarantee.... If we don't close your 203K in 45 days... WE WILL DO IT FOR FREE! - 08/14/10 12:35 AM
So what is the biggest drawback with the FHA 203K ???  

They are not widely known and because of this, lenders will stumble their way through them...
 
 
 
 
 
 
What happens then?  They drag on for 90 or 120 days, if they settle at all...
 
I have closed over 3,500 203K's and have an amazing team.  We orginate in almost EVERY STATE in the Union!
 
Here is my guarantee:

IF WE DON"T CLOSE YOUR 203K WITHIN 45 DAYS.... WE'LL DO IT FOR FREE!
 
Thats right, for free.  We will still work … (2 comments)

renovation: 203K - The 203k INQUISITION!! Ask thy lender questions! - 08/03/10 11:51 AM
So 203K's are all the buzz!!!  Great!  We knew this was going to happen.  Dinged and dented inventory is UP...  Interest Rates and qualification requirements are DOWN!
But why is it that only a fraction of these loans actually make it to the settlement table?
 
Well the answer is simple...  You were working with the wrong professional. 
Lets be clear, in today's information world, it doesn't take much to put up a website and claim that you are a this or a that. It is not hard to promote oneself as being an "industry leader" in something.  I mean the … (0 comments)

renovation: 203K Frontline Report: AS-IS value, Help your appraiser!! - 06/03/10 12:32 AM
Good Morning from the Island of Saint Lucia...
(Yes, I'm pathetic... here on my honeymoon and blogging....)
 
Brent is bringing you a new report and word of caution regarding 203K's and REO's. This isn't something that happens exclusively with REO's, but you will find this occurance here more often.
So.. Your customer finds a great buy. He submits a contracto on a HUD REO to purchase it. You currently have the inspection report from HUD's contracted inspection company, Termite, Appraisal ALL FINISHED! They say in this example that you can buy it 203b with a repair escrow of $4,000.00. … (1 comments)

renovation: FHA 203K Streamline... OR Full K??? THAT is the question. - 05/23/10 12:34 PM

 
Streamline 203K or Full K... That is the question. 
Quick lesson on when to use either.
 
So, everyone knows that the Streamline 203K can go up to 35K, right???  Well, kinda.  You see, the TOTAL COST OF CONTRUCTION goes up to 35K... this is normally somewhere around 33,500 max renovation cost.  You as the lender, (or if your still a broker, you'll have to ask what the rule is), can make your own rule as to if you require a Contingency Reserve or not... 
Contingency Reserves are typically 10% if the electric was on when the appraiser/inspector was … (0 comments)

renovation: 203K - 10 Helpful Hints at Selecting your Contractor!! - 05/17/10 12:58 AM
Lets face it folks, the 203K can be intimidating. As with anything, a well thought out plan can save you countless time and money. This blog is about a few pieces of advise FOR THE CONSUMER. I didn't cut and paste these things, and also they are not endorsed by HUD or any other government regulatory agency, but just my own meandering thoughts. (of course I have 16 years of experience doing these loans, so if your considering a K, Take it from the "K"man... ;)
Selecting a Contractor for a 203K:.

 
1. Your contractor and you MUST mesh. … (4 comments)

renovation: FHA 203K Streamline & EEM's ... (Energy Efficiency Mortgages).... Great Option! - 05/14/10 12:54 AM
Hint Hint...
 
Does anyone know what the maximum renovation you can do on a Streamline 203K ????
 
Bueler... Bueler....
 
"$35,000.00",  says the freckle-faced, Howdy Doody looking chap in the back.
 
EHHHHHH! 
 
Have you looked at the parts of the write-up that can be consider Energy Efficiency Improvements as well as Weather Stabalization???
AHHHH... Correct!  We can actually take those items OUT of the REHAB that qualify for these and ADD THEM TO THE MORTGAGE (with the funds escrowed for these renovations).  YES!  YES!
 
This actually means that there will be MORE money available to allocate … (4 comments)

renovation: 203K Refinance... Well worth it for many. - 05/03/10 12:28 AM
203K Allows for not only purchases but REFINANCES!

What is a 203K???  (a typical gov't title that means nothing)  No... Its a Loan Type.  It is a Renovation Loan.  A loan where you are allowed money to buy the house (or in this case, pay off the existing mortgage debt on a refinance) and also get money to fix the place up, all in one loan!
 
This is a tremendous opportunity!  you can fix your house up and get the money, right out of the equity in your home.  Some people have more than one mortgage.. maybe an equity … (0 comments)

 
Brent Kluge, I do mortgages REALLY well and I WON'T RIP YOU OFF (Senior Vice President, Secured Funding Corporation)

Brent Kluge

I do mortgages REALLY well and I WON'T RIP YOU OFF

Rockville, MD

More about me…

Senior Vice President, Secured Funding Corporation

Address: 412 H Street, NE, Washington, DC, 20002

Office: (410) 591-8300

Fax: (888) 557-5271

Brent Kluge's 203K & HomePath Renovation Blog Expert information for you for all your renovation needs focused on FHA 203k and FannieMae HomePath Renovation, HomeStyle and USDA reno. From planning, to process, to loans, to finding a match with a contractor, Brent Kluge and his team will guide you through the entire process and avoiding the pitfalls along the way.


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