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At Academy, we offer both the Streamlined version and the Standard version as well as Fannie Mae's Homestyle program.
The Streamlined version allows for up to $35,000 in non-structural renovations whereas the Standard version can be used for almost anything. Both are limited to the maximum mortgage limits in your county. Both are based on the purchase price plus the cost of improvements.
Fannie's Homestyle is a conventional version, but the same basic procedure. Investors can use this program up to 75% loan to value based on the purchase price and cost of improvements.Both FHA and Fannies programs can be used in a refinance application as well.Hope this helps. Call or email me with any additional questions. I have specialized in thes programs for several years.For Realtors that are interested, we offer a seminar which has been approved for two Colorado CE credits.
i offer the 203k as broker with different few investors. some do have certian requirements above FHA handbook guidelines other are by the book, per say. cheers.
Hey Andrew,I specifically said PROBABLY any lender. Does that mean they all do? Umm, NO. But thanks.
1hugProbably any lender that offers FHA.
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For Sale: $232,900
For Sale: $135,000
For Sale: $339,000