Renovation loans in Lancaster PA can be difficult to find and even harder, at times, to qualify for. Most lenders will point you towards a 203K loan. There are few lenders and even fewer Loan Officers that understand them well and know how to help their clients to use this product.
We do and this is not a 203K loan. We use conventional financing to help our clients to buy properties (foreclosures, short sales, homes that need work) and build the financing cost right into the primary mortgage. Even with only 5% down payment.
Structural renovation, rehab work, kitchens, roofs, flooring... you name it, our Renovation Loan (FAIRWAY Fixer-Upper) is the right answer for most people. Plans, specs and contractor(s) are required, no DIY work here.
Call me at 717-431-9299 to discuss our Renovation Loans.
Ken Pederson
FAIRWAY Independent Mortgage Corp.
Lancaster, PA
NMLS: 134043, Branch: 2289
Lancaster, PA
Ken...great to know. Thanks! Sometimes clients just do not want to go the 203K route as they feel it is to comprehensive...especially if it is not a streamlined 203K.I added this into my notes under your card. Have a great weekend.
Nov 01, 2014 11:29 AM
Realty ONE Group Sterling - Omaha, NE
Your Omaha Area Real Estate Specialist
Ken, It's great to see that someone is endorsing this program. I have had several people in my area strongly caution against them due to the extra costs and time involved.
Nov 02, 2014 12:17 PM
FAIRWAY Independent Mortgage Corp - Lancaster, PA
Certified Mortgage Planner
Christi... Usually when a lender cautions against them it means one of three things:
A. They don't have the product.
B. They don't understand it and are "afraid"
C. Their processors and OPS don't like them.
All the best!!
Nov 02, 2014 09:41 PM
Rainmaker
90,936
90,936
Ken Pederson
Certified Mortgage Planner
Real Estate Resources
Ken Pederson, a mortgage lender and Certified Mortgage Planner in Pennsylvania, talks about wealth accumulation and mortgage advice.
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