HomeStyle Renovation loan questions: 1. is this loan still available? 2. if so, what lenders in California [preferably Modesto] offer it?

Asked by Craig, 95363 Wed Sep 2, 2009

I've read the basics of FannieMae HomeStyle® program on efanniemae.com and believe that it would perfectly finance a home that I'd like to purchase. However, I am having difficulty locating a knowledgeable lender in my [Modesto, CA or surrounding] area.

Please advise as to the status of this particular program. Any relevant and RECENT personal experiences that are shared will be greatly appreciated!

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3
Jonathan Bla…, , East Atlanta, Atlanta, GA
Thu Aug 12, 2010
The Homestyle is still available. It's cheaper than the 203K and more flexible than the Homepath.
0 votes
Renovation S…, , Livermore, CA
Fri Sep 25, 2009
Craig,
Very few loan officers have the qualifications to offer these loans, especially if the extent of the repairs, rehab or remodeling is over $35,000. I have about 3 lenders that offer the loans for bigger projects, and they want the loan officers to go through a special training because the details of the loan can be quite complicated. I am located out of Livermore, which isn't too far from Modesto. If you haven't found anyone to help you with the renovation financing, you are welcome to call me at (925) 373-3222 or check out my website at http://www.charityloansmoney.com
0 votes
Robert Chome…, , San Diego, CA
Wed Sep 2, 2009
Yes this is still available for Fannie Mae REO properties. You also have the FHA 203k renovation loan.
Web Reference:  http://socalfhahomeloans.com
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