#1 Renovation Lender "Wells Fargo", what do you know about it!!??

Hello fellow activerainers, I am freshly of a "certification of renovation" in beautiful San Diego, and I have SO MUCH TO SHARE!!!

The short sale and foreclosure market has made it more than challenging to get buyers to buy homes that need "fixed up", "TLC", "handy man special", or "cash only", but "Prosperity Mortgage-An Affiliate of Wells Fargo Bank" HAS A SOLUTION!!!

Welcome to the Conventional and FHA "renovation loan". There is so much to say about this product I do not know where to begin...

FHA 203(k) "standard"

• Can lend up to 110% of the "AFTER REPAIRED VALUE"
• One time close
• All work is completed after closing-Realtors love this
• 1-4 unit properties
• $5,000 minimum in repair amount
• HUD consultant required- these are already in place for your buyer(s)
• Work must begin 30 days after closing and be completed w/in 6 months
• No maximum amount of repairs financed into purchase/refinance

FHA 203(k) Streamline

• Can lend up to 110% of the "AFTER REPAIRED VALUE"
• One time close
• All work is completed after closing-Realtors love this
• 1-4 unit properties
• $35,000 maximum in repairs
• Work must begin 30 days after closing and be completed w/in 6 months
• No structural work allowed, mostly cosmetic, appliances and modern upgrades

Conventional Renovation:

• • Can lend up to 75% of the "AFTER REPAIRED VALUE" conforming loan limits apply
  • One time close
  • All work is completed after closing-Realtors love this
  • 1-4 unit properties
  • No maximum in repairs
  • Work must begin 30 days after closing and be completed w/in 6 months
  • No restirction on renovatoin, luxury items included (pool/hot tub)
  • No age restrictions of property
  • Non Owner Occupied available

  We can service this product in multiple states and for the first 5 renovation loap apps that fire approval, I will contribute up to $250.00 for the appraisal upon closing.

For more info please email me or call directly;

Josh David-"Your Renovation Expert"

704.998.7609

josh.david@wellsfargo.com