I just attended a lunch and learn this afternoon to get up to speed on a new (revised) product that Wells Fargo is offering.   It is an FHA loan, so if you would normally qualify for an FHA loan, you would qualify for this one.   This is renovation loan which means you can buy a house that you see great potential in and get a loan that is for the improved value of the property. 

There’s lots of uses for this product:

1.  You are looking at a property, but it has some water damage, poor roof or needs to have the basement finished.

2.  You are a seller that just can’t seem to get a property sold.  Comments have been that the house is outdated and needs some improvements. 

3.  You want to stay in your current home, but need additional space and want to add a new family room or update the kitchen.

This financing product can address all these issues and you get the loan at very competitive pricing.  I was certainly glad I attended the session and came away with lots of information.

Let me know if you think this is a product that may work for you.  Don’t miss out on a great opportunity to improve your current home or buy a house with great potential and see that potential realized sooner than you think.  Call me today with your questions.

Tags: Council Bluffs Home Sales Market, FHA Mortgage, Financing a home, Home Mortgages, Omaha/Council Bluffs Residential Real Estate Consulting, Southwest Iowa Home Sales Market

Posted on Thursday, August 5th, 2010 at 3:44 pm and is filed under Buy a House, Homes for Sale, Mortgages, Real Estate. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.