Loan Scenario: FL, $190,000, 802, 95% LTV, Purchase
Loan State: Florida
Loan County: Pinellas
Loan Type: Purchase
Loan Amount: $190,000
Property Value: $200,000
LTV: 95%
FICO: 802
DTI: 35
Occupancy Type: Owner-Occupied
Property Type: Single Family Residence
To whom it may concern,
I am working with a client that wants to purchase a home that need some repairs and work done. It is livable, with sound roof, appliances, etc. However, the home inspector found some asbestos material covering the air ducts in the attic, the a/c needs to be replaced and there are some other minor repairs needed. My client is entertaining the idea of getting a Fannie Mae Homepath renovation loan (Property is ownde by FNMA and Homepath eligible) and borrowong the extra $20 - $40k needed for the repairs. Are there any wholesale lenders that lend in FL that participate with this program? None of my current lenders offer the FNMA Homepath Renov. program. Any advice would be greatly appreciated.
Thanks in advance,
Ryan Ford