renovation loan
Download
Skip this Video
Download Presentation
Marketing Plan

Loading in 2 Seconds...

play fullscreen
1 / 18

Marketing Plan - PowerPoint PPT Presentation


  • 92 Views
  • Uploaded on

Renovation Loan. Marketing Plan. Market Summary. How are Renovations Financed? (and why is a Renovation Loan better?) Purchase Rehab $2 Billion Other First Lien Rehab $18 Billion 125 LTV $4 Billion Unsecured $25 Billion Savings $72 Billion Closed End Seconds $31 Billion

loader
I am the owner, or an agent authorized to act on behalf of the owner, of the copyrighted work described.
capcha
Download Presentation

PowerPoint Slideshow about 'Marketing Plan' - valmai


An Image/Link below is provided (as is) to download presentation

Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author.While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server.


- - - - - - - - - - - - - - - - - - - - - - - - - - E N D - - - - - - - - - - - - - - - - - - - - - - - - - -
Presentation Transcript
market summary
Market Summary
  • How are Renovations Financed?

(and why is a Renovation Loan better?)

Purchase Rehab $2 Billion

Other First Lien Rehab $18 Billion

125 LTV $4 Billion

Unsecured $25 Billion

Savings $72 Billion

Closed End Seconds $31 Billion

HELOC’s $13 Billion

first mortgage advantages
First Mortgage Advantages
  • Renovation cost in tax deductible mortgage rather than high cost credit cards or retail installment loans.
  • Can escrow payments while repairs completed.
  • Escrow funds in interest bearing account (203(k) and Home Style only).
  • Frees cash on hand for other investment opportunities.
  • Only one monthly payment
what s in it for you
What’s In It for YOU?
  • Increase your volume by 20%
    • Increased sales amounts
    • Increased referral business
  • Eliminate 95% of your competition
  • Gain a competitive edge
what is a 203 k loan
What Is A 203(k) Loan?
  • An FHA Rehabilitation Mortgage
  • 1st Lien Position
  • Owner Occupied
  • Assumable
  • Mixed Use Properties
  • Minimum $5,000 repairs required
what is a streamlined 203 k loan
What Is A Streamlined 203(k) Loan?
  • An FHA Rehabilitation Mortgage
  • 1st Lien Position
  • Owner Occupied
  • Assumable
  • Maximum $35,000 in repairs
  • No Consultant required
  • No Structural repairs
203 k eligible properties
203(k) Eligible Properties
  • 1-4 Unit Owner Occupied
  • Condos (interior only)
  • Manufactured Homes
  • Mixed Use Properties
  • Existing homes complete for over 1 year
  • New Construction on part of original foundation
  • Existing home moved to new foundation
203 k necessary improvements
203(k) Necessary Improvements
  • Health and safety repairs
  • Corrections of code violations
  • Correcting structural deficiencies
  • Repairs necessary to meet HUD property compliance
  • Smoke Detectors
203 k repair ideas
203(k) Repair Ideas
  • Structural alterations and additions
  • Remodeling kitchens and baths
  • Changes to eliminate obsolescence and reduce maintenance
  • Modernize plumbing, heating, AC and electrical systems
  • Install or repair well or septic systems
  • Roofing, gutters, downspouts
streamlined 203 k repair ideas
Streamlined 203(k) Repair Ideas
  • Repair/Replace roof, gutters and downspouts
  • Repair/Replace or upgrade HVAC system
  • Repair/Replace or upgrade plumbing and electrical systems
  • Repair/Replace existing flooring
  • Minor remodeling of kitchens
  • Weatherization
  • New Appliances
  • Painting
  • Repair/Replace or add deck, patios and porches
what is the fannie mae homestyle
What is the Fannie Mae HomeStyle
  • Conventional Renovation Loan
  • Owner occupied, Investors or 2nd Homes
  • No minimum loan size
  • Maximum amount of rehab is 50% of the as-completed value
  • Qualify borrowers using DU
  • Owner Occupants may finance up to 6 mortgage payments
homestyle ltv s
HomeStyle LTV’s
  • Enhanced Allowable Loan to Values
    • Owner Occupant
      • 95% 1 Unit
      • 95% 2 Unit
      • 80% 3-4 Unit
  • Second Homes 95%
  • Investor
    • 1 Unit 80%
    • 2 Unit 70%
homestyle eligible properties
HomeStyle Eligible Properties
  • 1-4 unit Primary
  • 1-2 unit Investment
  • 1 unit Second Homes
  • Condos
  • PUD
  • Log and Modular Homes
homestyle repair ideas
HomeStyle Repair Ideas
  • Structural alterations and additions
  • Remodeling kitchens and baths
  • Changes to eliminate obsolescence and reduce maintenance
  • Modernize plumbing, heating, AC and electrical systems
  • Install or repair well and septic system
  • Roofing, gutters, downspouts
  • Put in a new swimming pool
realtors
Realtors
  • Market House with a Renovation & Payment Plan
  • Advertise renovation in newspaper ads or Community Home booklets
  • Improve Listing Power
    • Get the listing by assuring the seller a quick sale advertising their home as the “Create your own dream home!!!”
  • Create a vision for buying decision
    • Watch for reactions to specific parts of the home.
      • Use phrases like…
        • “If you want to change the color of the carpet in the living room, you can just include that in your mortgage.” or the kitchen cabinets
contarctors
Contarctors
  • All rehab Loans Need Bids And Proposals from licensed general contractors .
  • Build strong referral relationships with realtors selling homes that need TLC.
  • Offer rehab loans to your clients as a way to finance their projects.
public relations
Public Relations
  • This can be a huge Public Relations benefit.
    • Improving the neighborhoods
    • Reducing crime or property damage to homes sitting empty
    • Values increase as homes are renovated
contact
Contact

Hans Fetterhoff

Sr. Mortgage Consultant

Whitmor Financial

6170 N. Lehman Dr.

Colorado Springs Co, 80918

719-302-3586 Office

719-686-3652 Cell

[email protected]

www.SpringsHomesandLoans.com

“You’re Better Off With Fetterhoff”

ad