Renovation
Loans
HomeStyle
- Max loan amount $766,550
- Owner occupant, second homes and investment properties
- Condos, one to four units allowed (manufactured homes not allowed)
- Renovation costs up to 50% of the after improved value
- Incomplete properties when the builder went out of business allowed
- No restrictions on improvements (must be permanently fixed to property and add value)
- Contingency reserve is allowed from out of pocket
FHA 203K
- 3.5% minimum down payment requirement
- Maximum loan amount of $498,257
- Upfront mortgage insurance premiums financed into loan
- Monthly mortgage insurance premium
- Existing homes eligible
- Seller concessions 6%
- Condominiums may be eligible, must be on FHA approved list
- No income limits
- No minimum on renovation costs
- Gifts and DPA’s allowed
You can do any repairs or improvements to the home with a minimum amount of cost of $5,000. There are no limits as to the amount of the rehab costs as long as the total acquisition costs do not exceed the maximum FHA loan limits.
Mortgages Made SIMPLE
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What Our Clients Say
Trusted by Many, Loved by All
We had a wonderful experience with Travis and USA mortgage. They were always there to answer any questions we had and help us in every step toward purchasing our new home.
Nathan Butcher
I knew exactly what was happening at all times. The whole process was painless and everyone I worked with were thoughtful and professional. We love our new home and highly recommend working with Travis and his team.
Tim Caldwell
Travis was absolutely awesome to work with and I look forward to dealing with him in the future! Made everything so simple and understandable for me! Thank you!
Brandon Knight
Travis and Victoria have been absolutely amazing to work with. I honestly couldn’t have picked a better mortgage company to go with. They always kept me informed with what was going on and always answered any questions I had in a timely manner. They made the process really easy and stress free!
Christy Flinn
Travis Bell is amazing. He will answer all of your questions and does return your phone calls. He makes a pleasure to do buisness with. I would recommend him every time.
Adam Knox
Travis is awesome to work with and will go the extra mile to make sure your home buying or refi process run smoothly on his end. Great personality as well which makes everything easier. He is very attentive and if he doesn’t answer his phone right away expect a call back within minutes. Highly recommend his services!!