The FANNIE MAE Renovation will became much more attractive in 2014:
 660 MidScore.
 Up to 95% LTV based on after improved value.
 About half the monthly MI payment you see with FHA.
 No HUD Consultant Required which saves money and makes the contractors much happier and the transaction much smoother.
 Quicker closings.
Did I mention, that Investors are allowed as well?

Key Features:

• Financing from $100,00 - $500,000

• Low 1% origination fee

• Use of funds: Large and/or multiple purchased during draw period (i.e., property improvements, business expansion, purchases of large equipment/vehicles/capital assets)

• 24 month draw period followed by a ten year repayment period with a balloon payment based on a 10/25 year term

• No annual…

FHA Mortgagee Letter 2013-26

Flip your own house. Now is the time to renovate that property before you put it on the market in order to capitalize current market conditions...the perfect storm for your pocketbook.