English: Ruin of a house

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I have been receiving more and more calls concerning the HomePath Renovation Program.  This excites me and it should make you excited too!  Anytime a buyer upgrades a property, whether they are using it as a primary home or investment property, it’s a good thing for the neighborhood and for the market as a whole.  The buyer may purchase the home for $150,000, but they may be adding $30,000 in repairs or upgrades.  The final appraisal will take into account the purchase price plus repairs.

I addressed the HomePath Program a few days ago and the HomePath Renovation Program is very similar.  When you log in to www.homepath.com , each property will be assigned a program. You will see a logo for HomePath Eligible, HomePath Renovation Eligible, or both.  These properties are foreclosed homes owned by Fannie Mae.  They offer very attractive prices and there are deals to be had.

The HomePath Renovation Program allows the buyer to put down as little as 3% on the property.  Then after closing repairs, renovations, or upgrades can be accomplished with proceeds from the loan.  A list of repairs could include repairing or replacing the roof, repairing or replacing the HVAC system, kitchen remodeling, interior or exterior painting, replacing windows, and replacing carpet. Obviously, this list is not all-inclusive but you get the point.

A program that can be used for a primary residence, second home,or investment property is a win win for everyone.  If you would like to discuss this program, please call or email me anytime.  I would love to help.


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