New Home Renovation Option: Fannie Mae's HomeStyle®
|Parameter||FHA 203k||Fannie Mae's HomeStyle® Renovation|
|Occupancy||Primary Residence Only||Primary Residence (1-4 Units)
Second Home (1 Unit)
Investment Properties (1 Unit)
|LTV||Up To 96.50%||Up To 95.00%|
|Mortgage Insurance||Required||Not Required, if LTV < 80.00%|
|LTV Basis||Lesser of “As-is Value plus Rehabilitation Cost” or “Purchase Price plus Rehabilitation Cost”||Lesser of “As Completed Value” or “Purchase Price plus Rehabilitation Cost”|
Click here to view the product guidelines.
Thank you for your continued business. We look forward to discussing Sun West Mortgage services and/or rehabilitation mortgage programs.
If you have any questions, please contact your Client Relations Manager at (855) OK-SUNWEST or (855) 657-8693.
|Sun West Mortgage Company, Inc.
18000 Studebaker Road, Suite 200
Cerritos, CA 90703
Phone: (800) 453-7884