With the HomeStyle Renovation Loan you can renovate a home to fit your specific needs and style with one mortgage payment! This type of mortgage lets you borrow the money for the renovation and repairs with a conventional first mortgage instead of leaving you to finance renovations on your own.
The best part is, the HomeStyle Renovation Loan can be used on any type of renovation project, provided the improvement is permanently affixed to the property and adds value. For instance: new kitchen or bath, new pool, new roof, and more!
- Conventional Mortgage
- Home purchases & refinances
- Primary, second homes or investment properties
- Finance up to 75% of the as-completed appraised value
- Finance up to 6 months of payments during renovations
-
New Kitchen or Bath
-
New Pool
-
New Roof
-
Structural Repairs
-
Updating Flooring and Appliances
.jpg)
Greenway's Markets in a Minute I Possible hold on 2019 rate hikes
 |
| For the Week Ending December 14, 2018 |
|
Please enjoy this quick update on what happened this week in the housing and financial markets. |
 |
 |
 |
|
 |
The Fed's plans to continue raising policy rates next year may be on hold. However, a policy rate hike at next week's FOMC meeting is still likely. |
|
The core consumer price index, which is a key measure of inflation, picked up in November. Inflation could put pressure on mortgage rates to move higher. |
|
Unemployment claims fell to a near 49-year low last week. The drop could ease concerns about a slowdown in the labor market and economy. |
 |
|
|
Data for November shows mortgage applications for newly constructed homes were down 14% from October. Applications were also down 11% year over year. |
|
Freddie Mac is helping to lower utility bills for hundreds of thousands of low- and middle-income renters. It's part of their 3-year "Duty to Serve" plan. |
|
Freddie and Fannie Mae have announced a nationwide suspension of eviction lockouts on foreclosures for the holiday season, from Dec. 17 through Jan. 2. |
|
Rate movements and volatility are based on published, aggregate national averages and measured from the previous to the most recent midweek daily reporting period. These rate trends can differ from our own and are subject to change at any time. |
.jpg)
This was a guest post written by Linda Boscia who is a Business Development Manager for Better Qualified. Better Qualified founded in 2006, is a National Company helping consumers improve, restore and build their credit. Linda has worked with Better Qualified for over 8 years to educate Realtors on the Dos and Donts of Credit. She is dedicated to providing education, self help and support to clients with credit issues.Greenway's Markets in a Minute I Mortgage Rates Improve This Week!
|
| For the Week Ending December 7, 2018 |
|
Please enjoy this quick update on what happened this week in the housing and financial markets.
|
 |
|
|
|
|
The yield on 5-year Treasury bonds slipped below the rate on 2-year Treasuries, called an 'inversion.' Inverted yield curves could be a sign of a future recession. |
|
Mortgage rates improved this week as stocks tumbled and bonds rallied. Concerns the economy is cooling off could help rates continue to improve. |
|
The trade deficit widened more than forecast in October to the highest in a decade. This underscores continued fallout from the China-U.S. trade dispute. |
|
|
|
CoreLogic reports homeowners with negative equity declined by 81,000 in the 3rd quarter. The average homeowner gained $12,400 in home equity year over year. |
|
Luxury home builder Toll Brothers reported its first decline in quarterly orders in more than 4 years. It's thought rising interest rates and home prices were to blame. |
|
Buyers are spending more time trying to find the perfect home, often 3 months or longer. However, most buyers say they refuse to give up and will keep looking. |
|
Rate movements and volatility are based on published, aggregate national averages and measured from the previous to the most recent midweek daily reporting period. These rate trends can differ from our own and are subject to change at any time. |
.jpg)
PUT YOUR HOME IMPROVEMENT PLAN INTO ACTION!
When shopping for a home, you may come across properties that aren’t quite what you’re looking for, but have the potential to be your dream home with some repairs or renovations. With a renovation loan, you can roll the cost of financing or refinancing a home and repairs into one loan – saving you time and money.
Whether your home improvement projects are large or small, a home renovation loan can help you get the job done!
What are the benefits of a Renovation Loan?
Home improvements such as adding an extra room or replacing the roof not only makes a difference in how much you enjoy your home, but it can improve its overall value as well. If you aren’t happy with some features of your house, or want to purchase a home that needs work, consider using a home renovation loan to transform a house into your very own dream home.
Although you may be able to pay for home improvements with a personal loan or other types of financing, these methods have higher interest rates and monthly payments.
Instead, you can combine the purchase price plus the renovation costs into one mortgage payment or refinance your existing mortgage plus construction costs into a new mortgage. Our renovation programs make it easy for you to improve your property by including the extra financing in a purchase or refinance loan.
Some of our Renovation Loans Include:
- FHA 203 K Program
- Streamlined 203K
- Standard 203K
- HomeStyle
Learn more about our Renovation Mortgage Programs here.
Greenway Mortgage understands that home renovations of any size can be a huge undertaking. They’re exciting, but they can be a bit challenging and even inconvenient, depending on the degree of your renovations and the timeframe estimated until completion. Remember, a renovation can increase the value of your home or simply make your home more comfortable to live.
If you’re interested in learning more about how a Renovation Loan can help you, contact us today or visit our website here.
.jpg)
