HomeStyle Pool Program

 

Projects consisting of only a pool installation may follow the reduced requirements below. 
 

  • Reduced documentation and simplified process applicable when the project consists only of a pool, pool decking, and/or any fencing or netting immediately surrounding the pool. Materials draw available at closing lesser of $15,000 or 25% of the total project cost may be advanced at closing for material costs for items ordered and not yet paid for. 
  • Simplified bid requirements all work to be performed must be fully described, bids are not required to separate labor and material costs. 
  • Permits while permits must still be obtained and referenced, an itemized listing of all permits and their costs is not required. 
  • No holdback fund required will fund each draw in its entirety and not withhold 10% of the draw. 
  • 10% contingency reserve is required. 
  • A streamlined version of the Fannie Mae Homestyle® Program specifically for building a pool. 
  • Up to 95% LTV based on the lesser of subject-to appraised value or purchase price/refi costs + total cost of renovations. 
  • Primary and second homes only. 
  • Purchases or Refinances. 

Give us a call today at 972-723-2611!
 
 

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Email Us: info@mamsw.com

 

Licensing Info:

NMLS # 317299

RMLO # 222329

 "CONSUMERS WISHING TO FILE A COMPLAINT AGAINST A COMPANY OR A RESIDENTIAL MORTGAGE LOAN ORIGINATOR SHOULD COMPLETE AND SEND A COMPLAINT FORM TO THE TEXAS DEPARTMENT OF SAVINGS AND MORTGAGE LENDING, 2601 NORTH LAMAR, SUITE 201, AUSTIN, TEXAS 78705. COMPLAINT FORMS AND INSTRUCTIONS MAY BE OBTAINED FROM THE DEPARTMENT’S WEBSITE AT WWW.SML.TEXAS.GOV. A TOLL-FREE CONSUMER HOTLINE IS AVAILABLE AT 1-877-276-5550.
 THE DEPARTMENT MAINTAINS A RECOVERY FUND TO MAKE PAYMENTS OF CERTAIN ACTUAL OUT OF POCKET DAMAGES SUSTAINED BY BORROWERS CAUSED BY ACTS OF LICENSED RESIDENTIAL MORTGAGE LOAN ORIGINATORS. A WRITTEN APPLICATION FOR REIMBURSEMENT FROM THE RECOVERY FUND MUST BE FILED WITH AND INVESTIGATED BY THE DEPARTMENT PRIOR TO THE PAYMENT OF A CLAIM. FOR MORE INFORMATION ABOUT THE RECOVERY FUND, PLEASE CONSULT THE DEPARTMENT’S WEBSITE AT WWW.SML.TEXAS.GOV."
 

 

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