"Renovation Loans for Existing Homes"
3 Hour CE Class
We have more than 135 million existing homes in America with many listed for sale in today’s markets. These homes are older and don’t have the amenities today’s buyers are looking for in a home. Location, location, location may not always be powerful enough to overcome neglected and dated long overdue for modernization.
For many buyers, especially first time homebuyers, renovating a home post-closing may seem out of reach because they do not have the liquid assets to do desired renovations. This can obviously have a big influence on a buying decision when the needy property is in the right location for a particular buyer. So just how can a prospective homebuyer make improvements to a property without cash and with little equity?
By knowing the renovation mortgage options you can offer more to your customer and clients the financing options they need to repair, restore, rehabilitate or renovate their existing or home purchase. In addition, flexible financing is also available to borrowers who are planning energy efficient and renewable energy home improvement enhancements.
Fannie Mae, Freddie Mac, the Federal Housing Administration, the U.S. Department of Agriculture along with the Veterans Administration offer programs that allow buyers to borrower based on what the house is expected to be worth after the home rehab is completed. Current homeowners have options to refinance their existing mortgage and combine the renovation cost into one loan.
Let's learn how these programs work.
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Cathy McDaniel is the author of “A Road Map To Saving Your Home" which is available at the National Association of REALTORS bookshelf. Cathy has just released her current book “The Route to Homeownership” Generational Differences in Home Buying.
Being in the real estate and mortgage industry since 1993 she opened "My CE Class, LLC" in 2007, a real estate school approved by the Georgia Real Estate Commission. Cathy has conducted over 1,000 live continuing education classes, authored 145 training manuals and has met and trained more than 90,000 real estate professionals throughout 23 states since 2007. She is licensed as a continuing education instructor at many real estate boards and associations across the country.
Cathy is recognized as an industry expert in homeownership and received from Georgia Real Estate Educators Association the 2016 “Outstanding New Program Course” and the 2008 “Educator of the Year. She serves as the Education Director for Georgia Realty School a division of Virtual Properties Realty, Qualifying Broker for Owners 1st Property Management Company, and has a partnership with HomeStar Financial Corporation, Halperin Lyman, LLC and DR Horton Communities and many others which allows her to offer free classes and community events.
Visit: www.classeswithcathymcdaniel.com for course descriptions, dates and locations.
To predict the future you must create it ...Cathy McDaniel
Cathy's Motto: "Autograph Your Work With Excellence!"