If you found a home you love, but know that it needs some renovating, you may wonder if you can add the renovation costs to your mortgage. Typically, purchase mortgages don’t allow you to pay for anything except the cost of the home and possibly some closing costs. Compare Offers from Several Mortgage Lenders. There are a couple of loans that do allow this, though. Keep … [Read more...] about Can You Add Renovation Costs to a Mortgage When Purchasing?
fannie mae homestyle
If you wish to purchase a home that needs renovations or already own a home that needs fixing up, there is an option out there that allows you to obtain the funds necessary to purchase or refinance the home as well as have the funds to fix it up all in one mortgage. This single close mortgage is called the Homestyle Renovation Mortgage and is a Fannie Mae program. The mortgage … [Read more...] about Fannie Mae Homestyle Renovation Overview