REMN’s proprietary research found that renovation lending products are often thought of as unreliable and difficult to close “even under ideal circumstances.”
“Renovation loans are some of the most misunderstood mortgage products in the industry,” said Carl Markman, director of national sales for REMN Wholesale. “They are incredibly powerful tools for moving dated inventory, especially with millennial home buyers. These loans also act as excellent referral generators, but there are so many misunderstandings about them that they’re rarely even mentioned as an option.”
For its first webinar, REMN will focus on 203(k) products. Future webinars will tackle FNMA HomeStyle products, best practices in closing reno loans and how to market them.
“The more educated people are about reno loans, including borrowers, home owners, brokers and realtors, the better the entire housing industry will be,” Markman said.
Interested participants should register .
203(k) loans can mean low risk for lenders, instant equity for homebuyers
REMN Wholesale is launching a monthly webinar series to clarify misconceptions about renovation loans, according to a news release. The series begins today.