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The Rural Housing Service published a final rule to the USDA Single Close Pilot Program; effective August 22, 2019. This blog contains an overview of some of the changes.

There are many paths homeowners could take to pay for their renovations, but which is best for the borrower and which is best for you, the lender? Take a deep dive into HELOCs and renovation loans in this blog.

Join us for an interview with HousingWire Insider Shannon Faries. “A major benefit technology provides is risk mitigation and increased profitability for lenders. However, lenders won’t invest in new technology if they don’t feel confident offering construction loan programs in the first place.” Originally posted in HousingWire June 2019.

Freddie Mac has officially announced their new renovation loan product, CHOICERenovation. This new program brings Freddie Mac into the renovation lending space and positions itself as an alternative to the Fannie Mae Homestyle Renovation program. See this post for details on the offering and comparison with Fannie Mae Homestyle.

Renovation and construction loan programs should first include a solid foundation of program policies and procedures created and implemented before the first loan is originated. The goal of creating these policies, procedures, and forms is to maintain low risk, gain greater control, and accelerate and scale your construction and renovation loan programs.

Getting started in construction lending is simple with these valuable yet easy to digest tips. Consider them a primer in construction lending training.