Office: 555 Quince Orchard Road, Suite 411, Gaithersburg, MD 20878
 
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Renovation Lending Experts
 
 
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Fidelity Direct Mortgage
 
 
 
 
 
 
 

Eligible Properties

 
 
FHA 203k Loan Program: Must be primary residence only.
*Condominium-Renovation improvements are limited to the interior of the unit.
Single-Family Residences
*Attached homes, detached homes, and town homes
One to Four unit Properties
*Multi-unit properties are acceptable and usually projected rental income can be used to help qualify for the higher loan
Convert a One unit to a Two Unit Property
*This scenario is an excellent opportunity to convert the basement into a legal income producing unit. The Washington DC area row house properties are ideal for this type of conversion.
The value is based on a 2-unit at time of underwriting the loan


 
Happy Family enjoying home loan in Rockville MD 203KHUD
 
Home-Style Loan Program:
Allowable property types are; primary residence, second homes, and investment properties.
Single-Family Residences
*Attached homes, detached homes, and town homes
One to Two Unit Properties
* Multi-unit properties are acceptable and usually projected rental income can be used to help qualify for the higher loan amount
*Condominium- Renovation improvements are limited to the interior of the unit.
Convert a One Unit to a Two Unit Property
*This scenarios is an excellent opportunity to convert the basement into a legal income producing unit.
Second Home Residences - One unit

*Attached homes, detached homes, or town homes
Investment Residences – One Unit
* Attached homes, detached homes, and town homes. Loan amount cannot exceed $417,000