Conventional Renovation Loans For Primary Borrowers and Investors

1)  CHOICEReno eXPressSM Mortgage

Rehabilitation Loan Limit:  10% of Refi Loan or Purchase Amount or 15% in Duty to serve high-needs areas.

 2)  “CHOICERenovation”  Loan

Loan Limit: Refi 75% of After Repair Value –Purchase 75% of the lessor of Purchase price and renovation

• Rehabilitation Loan Limit: No Limit Up-to

• Max Loan Amount: 1Unit $621,000 - 2 Units: $795,000 – 3 Units $960,950 – 4 Units: $1,194,250

• Financing Limit (LTV: Loan To Value): 95%.Primary & 97% if First Time Homebuyer 85% Investment. On Purchases LTV is
based on lesser of A. Purchase Price plus Renovation or B. The (ARV) After Repair Value. On Refinances 75% LTV is loan
amount divided by (ARV) After Repair Value.

• Intended Use: Primary, Second Home, Investment (Purchase & Refinance)

• Credit Score: Min 620

 • Property Type: PUDS, 1-4 Units, Manufactured Home, Fannie Mae-Warrantable Condos

Key Points: HomeStyle loans can also be used to build accessory dwelling units, like

a carriage house or garage apartment or to finish a basement for an in-law suite.

Swimming Pools and permanent landscaping allowed. You cannot use

HomeStyle to tear down and rebuild the home.

Key Advantage No Upfront PMI. 10% Contingency reserve optional to Borrower.

Six months of loan payments can be financed if the borrower is moving out.

Allows you to finish properties started by builders that are 90% complete.

New: 50%of the material costs can be pulled on the first draw. least 51% and


Call or email today or use the Form provided Below to request information. No Cost or obligation.



Great Florida Lending, Inc

¡No Solo Soy Especialista en Hipotecas Revertidas, Tambien Soy Un Cliente!!!

2828 Coral Way, Ste. 470
Miami, FL 33145