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WHY DO WE DO THIS, though?
Our Reviews from Homeowners Speak for Themselves!
Align yourself and your brad with a company and team who stand by their product and have great things being said about their QUALITY, and attention to detail... we are ensuring this level of standard beig carried out throughout the continuaton
Why Do We Vet Our Affiliates?
We want to equip you the best way possible, in addition, to best aligning our brand with those we decide to. We also want to make sure you have a solid path of success and we can see the same path WITH YOU in order to equip you.
What Will Our Team Do For You?
We will strategize with you prior to approval for promotion so you can get started as soon as humanly possible to begin earning commissions. We want you to win because when YOU WIN, we win also. Only makes sense, right?
WHO Are We Are Serving?
We Are Serving Consumer Home Owners to the Savvy Investor. While Equipping the contractors in those markets to perform the jobs. Closed Loop Approach.
Property owners who want to test the viability of their property to increase their equity value, who who single family homes, duplexes, triplexes, quadplexes, 5/6/7/8plexes and can go all go another story up so go crazy with what the possibilities are!
Contractors who want to upgrade their business offerings and want to add another $249,000 to their bottom line every year.
HOW Are We Serving Them?
We are serving the property owners, whether they are first time investing into their home or seasoned investor with any assortment of a background, we work with everyone to ensure they have a strong first step forward, first through the feasibility study.
Also in the Trade side of the equation... We are licensing contractors per our patented process to so they understand what they are stepping into immediately and we lead from the front. We have equipped them with business and the marketing side of their businesses so this way everything from consumer needs to the B2B focus to create a closed loop, we are here to team up with you if this is something you want to earn commission on while changing lives in more ways than one.
10% to all products and services we release ongoing....
What Markets Are We Operating the Best In?
We are able to accomplish to projects in all 50 states, but what is important to be mindful of is the cost of construction is LESS THAN the VALUE of construction in that specific market. We are working in states from Alabama, Florida, Massachusetts, California, and more. It all boils down to the asset, zoning and a few other things we handle in the feasibility study service we offer to ensure if the home will or will not be a good fit to help resolve that on an individual basis.
Exploring Home Style Loans for Home Additions
Exploring Home Style Loans for Home Additions
Home additions are an exciting venture, promising added space, functionality, and value to your property. However, the financial aspect of such projects can often be daunting. Enter Home Style Loans – a financing solution tailored for homeowners looking to renovate or expand. In this article, we'll delve deep into what Home Style Loans are, their benefits, and how they compare to other financing options.
What Is A Home Style Loans
Home Style Loans are a type of mortgage product offered to homeowners wishing to undertake renovation projects. Unlike traditional mortgages, these loans consider the anticipated value of the home after the renovation, allowing homeowners to borrow more than the current value of their property. This feature makes them particularly appealing for significant home addition projects where the post-renovation value is expected to see a substantial increase.
Considering a Home Style Loan for your renovation?
Let our team guide you through the process. Get a personalized quote tailored
to your project's specifics.
Benefits and Considerations of The Home Style Loan
Benefits of the Home Style Loan:
Flexibility: Home Style Loans can be used for a wide range of renovation projects, from minor upgrades to major additions.
Increased Borrowing Potential: Since the loan considers the post-renovation value, homeowners can access more funds than with traditional loans.
One-time Close: Homeowners only need to close once, reducing paperwork and closing costs.
Considerations of the Home Style Loan:
Higher Interest Rates: Typically, Home Style Loans come with slightly higher interest rates than conventional mortgages.
Strict Requirements: The renovation plans must be approved, and funds are disbursed as the work progresses, requiring more oversight and documentation.
Comparing The Home Style Loan vs. 203k Loan
Both Home Style and 203k loans are designed for renovations, but there are key differences:
Loan Type: While Home Style Loans are offered by Fannie Mae, 203k loans are backed by the Federal Housing Administration (FHA).
Property Types: Home Style Loans are more flexible, accommodating both primary residences and investment properties. In contrast, 203k loans are primarily for primary residences.
Renovation Limits: 203k loans might have stricter limits on the types and extents of renovations allowed.
How to Find a Home Style Lender
Not all lenders offer Home Style Loans. It's essential to research and find lenders familiar with this product. Consider:
Checking with Fannie Mae: They provide a list of approved lenders.
Local Banks and Credit Unions: Some local institutions might offer Home Style Loans.
Mortgage Brokers: They can connect homeowners with suitable lenders.
Requirements for Home Style Loan
Credit Score: A minimum credit score, often around 620.
Down Payment: Typically, a 5% down payment is required.
Debt-to-Income Ratio: Lenders might have specific DTI requirements to ensure borrowers can manage the loan.
Renovation Plans: Detailed plans, including cost estimates, must be provided and approved.
How to Get Designs for Home Style Loan Approval
Having detailed and professional designs is crucial for loan approval. Consider:
Hiring a Licensed Architect: They can provide detailed blueprints and renderings.
Consulting with Contractors: Some contractors offer design services or partnerships with architects.
Using Renovation Software: Some software solutions allow homeowners to create detailed renovation plans.
How Long Does It Take to Get Approved for the Home Style Loan?
The approval process can vary, but typically it takes longer than a conventional loan – often 30 to 45 days. This extended period accounts for the additional scrutiny of renovation plans and cost estimates.
Typical Interest Rates for the Home Style Loan
Interest rates for Home Style Loans can vary based on creditworthiness, loan duration, and market conditions.
Home Style Loans offer a compelling financing solution for homeowners looking to undertake significant renovation projects. By understanding the benefits, considerations, and intricacies of this loan type, homeowners can make informed decisions and bring their renovation dreams to life.
Potential Pitfalls and How to Avoid Them
While Home Style Loans offer numerous advantages, like any financial product, there are potential pitfalls. This section can delve into common mistakes borrowers make and provide guidance on how to avoid them. Topics might include:
Overestimating the post-renovation value.
Not vetting contractors thoroughly.
Failing to account for potential overruns in renovation costs.
Not understanding the terms and conditions of the loan.
By highlighting these pitfalls and offering solutions, readers can feel more informed and prepared as they consider a Home Style Loan.
Success Stories: Real-life Home Style Loan Renovations
Nothing speaks louder than real-life success. This section can showcase a few brief case studies or testimonials from homeowners who successfully utilized Home Style Loans for their renovations. Each story can touch on:
The scope of the renovation.
The loan process experience.
The impact on the home's value.
Feedback on living in the renovated space.
By sharing these success stories, potential borrowers can visualize the potential outcomes of their own projects and feel more confident in the Home Style Loan as a viable financing option.
Home Style Loan Checklist
Navigating the process of securing a Home Style Loan can seem daunting, but being prepared is half the battle. To simplify the journey, we've compiled a comprehensive checklist of documents typically required by lenders. This list aims to help prospective borrowers organize their paperwork, ensuring a smoother application process and faster approval. By gathering these documents in advance, you'll be well-equipped to approach the Home Style Loan process with confidence and clarity.
Valid government-issued photo ID (e.g., driver's license, passport)
Social Security card or number
Recent pay stubs (last 30 days)
W-2 or 1099 forms from the past two years
Tax returns from the past two years
Proof of additional income sources (e.g., bonuses, alimony, rental income)
Bank statements (last 60 days)
Retirement account statements (e.g., 401(k), IRA)
Other investment account statements
Lenders will typically do this themselves, but be prepared for a credit check.
Don't navigate the Home Style Loan journey alone.
Our experts are here to help, ensuring you get the best terms for your dream renovation.
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