Renovation Lending for REALTORS in a Challenging Market

Thursday, October 9th | 9a-12p | Zoom | 3 Elective Credits CE | Instructor: Charlie Napolitano

During this course you will discuss all of the different types of renovation loans available. This course outlines the benefits for real estate agents and their buyers. These loan programs provide funds for the purchase and remodel and/ or repair of a home, all in one transaction (based on the eligibility of the client and the home). By actively participating in this course the student will be able to:

• Define Renovation Lending, its benefits, its process, and current market and industry trends.
• Communicate with potential clients the different types of loan programs available that allow for purchasing & including money for renovation/repairs in one transaction... FHA 203k, Fannie Mae HomeStyle, Freddie Mac Choice Reno, VA Rehab, and USDA Reno mortgage programs.
• Communicate to their clients about the specific requirements, benefits, and eligibility guidelines for each renovation mortgage type
• Communicate to their clients how the math and loan structuring is determined and how the “After Completed Value” of the property is determined.
• Communicate to their clients the types of improvements and/or repairs that are permissible on each product
• Communicate the loan process for each renovation mortgage program and the role of the Lender, contractor, and HUD Consultant, and post-closing expectations.