THE DREAM - Renovate Your Next Home Like HGTV. Now!
Yaaas! Could you imagine...
Walking into a your new house with contrasting cabinets, mid-century modern furniture, and shiplap for days!? I sure can.
What once felt impossible, unless you had $50,000 in your pocket, now seems possible. Freddie Mac has just announced the roll out of its CHOICERenovation loan program.
Basically, you, the borrower, can apply for a single loan for the both the purchase and renovation of a new home. Just like other FHA loans some borrowers may only need to bring 3% down to the closing table. That means on a $250,000 house you would only need to bring approximately $7500 before fees
Where the rub comes, is that they will only loan up to 85% of the finished home's market value ($85,000 on a $100,000 in-like-new condition). However, If you or your agent have great negotiating skills you may be able to purchase and renovate a home fully funded by the program. Inquire your agent and/or lender about this loan.
Author:Erin Bishop Phone: 717-873-8767 Dated: June 21st 2019 Views: 349 About Erin: Erin is the Sales Director for Space and Company as well as a licensed real estate agent and experie...
I have 14 years’ experience in residential and commercial properties throughout the Philadelphia area and inner ring suburbs. In my former life, I practiced law in Philadelphia in the areas of Premises and Products Liability, which translated beautifully into having a deep understanding of how houses “work” and Contract Law, not to mention being in the midst of my second personal renovation.
I live with my family in Germantown in a Queen Anne and previously lived in Fishtown until 2011. I am originally a native of Rochester, NY (go Wegmans!) and attended undergrad at Eugene Lang in New York City and University of Rochester, where I received a BA in Political Science in 1998. I attended Law School at State Universit y of New York at Buffalo School of Law where I received a Juris Doctor in 2003 and became a member of the PA Bar as well in 2003. I practiced in Philly for 2 1/2 years before making the leap to real estate, my true love.
I am a dog fanatic with a beautiful Husky/Collie (I’d guess?) mix at home…I can most likely find you a rescue dog too if you’d like one for your home! I am a sucker for old homes with original details, Back staircases, stained glass but love elements of most periods of design.
When I’m not selling houses, I can most often be found hanging out with my two young daughters at all the kid hot spots in town.
2014 & 2018 Space & Company Leadership Award
2017 and 2012 Space & Company Top Producer Transactions Award
2017 Space & Company Double Digit Sales Growth Award
2016 Best Realtor-Philadelphia Home Magazine
2013-2015 Five Star Real Estate Professional Award