ST. LOUIS AND ST. CHARLES MO
What mortgage lenders in the St. Louis and St. Charles MO area provide for ALL the renovation type mortgages, FHA 203k, Homepath Renovation and Homestyle Renovation? There are not that many lenders in the area who can provide you with all the choices for renovation type mortgages. I have been helping people with securing a mortgage since 1998 when I closed my first FHA 203k Renovation Mortgage. I am confident that I know of only 3 lenders in the St. Louis MO area that can offer all 3 renovation type mortgages.
The first lender, of course, is myself and USA Mortgage, I may be a bit biased about this but I am confident that we are the NUMBER 1 FHA 203k Renovation Lender in the area and the state. One of the lenders in the area is my greatest source for new renovation mortgage clients, they start with them but end with me. The third renovation lender in the area is a my good friend Tony, I will not name him fully or his company but if you are lucky enough to have him as your loan officer you are in great hands.
What is a FHA 203k home loan, if you want to learn more about the FHA 203k Renovation home loan please visit my website by following the previous link. There are two types of FHA 203k renovation mortgages, the FHA 203k Streamline and the Consultant FHA 203k. You will find many lenders in the St. Louis area that state they can do FHA 203k loans, but most will only have the FHA 203k Streamline. You want to have both options available to you. Please, do not work with a lender that doesn't offer you all your options.
What is a Homepath Renovation loan program, unlike the FHA 203k which you can use for any type of home the Homepath Renovation program can only be used with FannieMae foreclosures that are designated as Homepath Renovation. If you are interested in a FannieMae Homepath home and want to know more about Homepath Renovation, please follow the link.
The last of the renovation type mortgages is Homestyle Renovation, this renovation mortgage is offered through FannieMae as well but can be used for all homes and is similar to the FHA 203k. The biggest difference between Homestyle and FHA 203k is that Homestyle Renovation has a much higher maximum loan limit and FHA 203k is much easier to qualify for.
There is no reason to avoid utilizing renovation type mortgages either for the purchase of your next new home or to finance the cost of remodeling and/or fixing up your current home. You just need to have a lender who is experienced with the programs and can provide you with all your options. I would welcome the opportunity to helping you as your lender, but if before you are ready to commit and have questions please feel free to contact me. I spend a good portion of my day speaking with people who have questions about the FHA 203k, Homepath Renovation and Homestyle Renovation loans, I look forward to hearing from you.