loan for my fixer: HomeStyle® Renovation Mortgage - Santa Rosa
- 12/10/14 10:44 AM
Renovation mortgages are simply new mortgage loans that include the renovation funds to make those needed repairs. It can be for a purchase or a refinance. The FannieMae
HomeStyle® Renovation Mortgage is one of the most popular along with the FHA 203k loan program for doing this.
Why would you choose the FannieMae product over the FHA 203k?
Economics, simple economics. If you have good credit and 20% down payment you can get out of PMI (Private Mortgage Insurance). If your down payment is less than 20% you are still subject to some PMI but it goes away after eleven years while the 203k PMI now … (0 comments)
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Renovation mortgages are simply new mortgage loans that include the renovation funds to make those needed repairs. It can be for a purchase or a refinance. The FannieMae 
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