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 First
Mortgages for Renovation
The HomeStyleŽ
Community Mortgage is a conventional first mortgage that offers
low-to moderate-income homebuyers and homeowners the opportunity
to purchase and renovate a home with a single loan. With
HomeStyleŽ Community Mortgage, applicants can qualify for
financing with less income and less down payment than that
required by most conventional loan programs.
These loans are
targeted to low- and moderate-income homebuyers, residents of
central cities and residents of under-served areas, which
include metropolitan and non-metropolitan (rural) areas.
Borrowers can
receive purchase renovation funds with as little as 5 percent
down and take advantage of expanded qualifying ratios.
Single-family, owner-occupied properties and certain condos and
PUDs are eligible. The eligible loan amount is determined by the
"as-completed" appraised value of the home.
For additional
information or to apply for a HomeStyleŽ Community Mortgage
loan, call American United at (800) 555-2035 or e-mail us at
info@americanunited.com. |
