Entries by jadams

Maximum Mortgage Worksheets & renovation loans

The maximum mortgage worksheet is typically used by internal mortgage professionals. It is used to determine the total renovation dollars and loan amounts. There are several factors that should be considered described in the video below. Factors include renovation hard costs bids, permitting, inspections, title updates, architectural designs, HUD Consultant fees, supplemental origination fees, contingency […]

VA Renovation Loan Myths

There is a tremendous buzz around VA Renovation Loans today . They are similar to an FHA 203K repair loan but available for eligible VA beneficiaries (active duty or prior military). Many people don’t know these loans exist. Some naysayers even refute the program’s existence.  According to the VA Handbook 26-7, The Alterations for Improvement […]

Renovation loans for manufactured homes?

I’ve recently been asked if you can do a 203k, or VA renovation loan on a manufactured home. The simple answer is yes! There are a few restrictions to keep in mind but it is possible to finance and include some repairs in with a purchase or refinance of one of these structures that requires […]

Case study in renovation lending

A case study in renovation lending on a Jacksonville Florida home located at 13723 Alesbury Ct Jacksonville FL 32224 reveals people are not just fixing a home to minimal standards but modernizing a home and extending new life into established neighborhoods and creating an exciting alternative to buying a track built home. Here they have upgraded […]

VA Renovation loan options

Wouldn’t you like to provide your veteran customers financing on virtually any home? Could you help more veterans if you could buy the property in the condition it was in and have repairs included in the financing and done after closing? Now you can do all of this with new programs offered for VA Renovation. […]

Sourcing deposits – Get your assets to closing

Seasoning and sourcing deposits are among the most common hangups when clearing underwriting conditions on documentation for assets, gift funds. What is  sourcing and seasoning funds for closing? John Adams ( NMLS 442266 ) and Tu Mullins ( NMLS 657663 ) go over the most common questions that can help your borrowers navigate their assets to […]

Property Type Matters FHA 203k Homestyle and VA renovation loan specialists

Does Property Type Matter? John Adams NMLS 442266 and Tu Mullins  NMLS 657663 discuss different property types and the financing available to repair almost any home regardless of condition with FHA Conventional and now even VA renovation lending products. Call us for information on renovation loan options. It’s financing with all the fixings. Here is a link to the handy checklist referenced in the video