Liberty Mortgage

2501 S. Trumbull Ave.  Chicago, IL 60623
Phone:  773-819-7900     Email: libmtg@yahoo.com   Fax: 773-439-2450   NMLS # 1807234

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FNMA HomeStyle Renovation Mortgage

The HomeStyle Renovation (HSR) mortgage provides a convenient

and economical way for borrowers considering moderate home

improvements to make repairs and renovations with a single-close

first mortgage, rather than a second mortgage, home equity line of

credit, or other, more costly methods of  financing.


Product Overview:

The HomeStyle Renovation is a single-close loan that enables borrowers to purchase a home that needs

repairs, or refinance  the mortgage on their existing home and include the necessary funds for renovation

in the loan balance. The loan amount is based on the “as-completed” value of the home rather than the

present value.   Loan Purpose Purchase or limited cash-out refinance.

Work Sheet


FHA 203k Renovation Mortgage

The FHA 203(k) loan lets you purchase or refinance and rehabilitate

a property with one loan closing. The projected rehabilitation costs

are held in an escrow account and disbursed as work is completed

and inspected. The loan amount is based on the lower of the projected

market value following repairs or purchase price plus renovation costs.



Investors Renovation Mortgage

The Loan Program  lends money to  investors to buy and

rehabilitate investment property with one loan closing.

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The loan amount is based on;

  • 90% LTV of the purchase price. (10% Down)

  • 95% LTV of the repair cost.  (5% Down)


Investors Line Of Credit

This Program  is a line of credit  investors can use to

buy and rehabilitate investment property. The loan

amount is based on;

  • 5 Times your liquid assets

  • Minimum liquid assets is $50,000.00


 

FHA LimitsFNMA LimitsFor More information: Contact Us: Enter a Loan Application: Click Here