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21 - Nov
'
(Nearby Event: Business)
Where:Maximum One Realty Partners, 313 Jonesboro Road, McDonough, Georgia, United States, 30253
Cathy McDaniel                Home renovation loans are in demand! We've seen tremendous growth in the use of these loans across the country. The majority of the nation's housing stock is at least 35 years old.There is a demand for mortgage products that address the needs of older homes and allow home buyers and  owners to make modifications, improvements and to remodel the home; renovate the kitchen, add a deck, change outdated light fixtures, build an addition, update the heating system and more.What stands between most home improvement dreams and reality is money, of course. The good news is there are ways to come up with the money needed for home renovation.Fannie Mae and the Federal Housing Administration have home renovation mortgage programs that allow homebuyers and owners to borrow and finance the improvement costs into their mortgage and is based on what the house is expected to be worth after the home renovation is completed.Let's learn how these renovation loans work, how to sell them, how to write up your contract and get the transaction closed.  Fannie Mae Homestyle Renovation Loan dynamics Features FHA 203(kl) Streamline dynamics Features Benefits to the homebuyer and  homeowner Program qualifications Writing  special stipulations in the sales contract Selecting home repairs, improvements and remodeling Selecting the contractor for lender approval Appraisal - How "after repaired" value is established These mortgage products are great tools for homeowners and are important for community revitalization. Homebuyers and neighborhoods can benefit from the improvements these loan programs make available.                             My CE Class, LLC #5914 | 3 Hour In-Class Continuing Education Course                                                  
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