Jim Potts

Synergy One Lending

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3 Most Commonly Asked Questions About Renovation & Construction Loans

August 13, 2022 by Jim Potts

What are my options if I have no down payment, or only a small down payment?

FHA loans allow a minimum of 3.5% down and this down payment can be in the form of documented gift funds from a family member.  Conventional loans may allow a minimum of 3% down, which can also be from documented gift funds from a family member.  Using VA financing a qualified active service or veteran may receive 100% financing.  The USDA Rural Housing program also allows 100% financing, though there are both geographic and income restrictions with this program.  The amount financed may be reduced on all of these programs depending on the borrower(s) qualifying credit score. read more

Filed Under: Loan Tips Reno, Renovation vs Construction Loans

All About The Renovation And Construction Loan Process

June 21, 2022 by Jim Potts

Are you thinking about getting a construction or renovation loan but aren’t sure what the process entails? In this video, I’m going to walk you through the steps it takes to get financing for one of these programs. We’ll look at everything from choosing your property to closing so you know exactly what to expect.

How To Qualify

Qualifying for a construction or renovation loan is much like a regular loan, though the process is a little different. The key to getting one of these loans approved is both the structure and the numbers. read more

Filed Under: Blog, Loan Tips Reno, Renovation vs Construction Loans

The Different Renovation & Construction Loan Types

June 16, 2022 by Jim Potts

Are you thinking about getting a construction or renovation loan but aren’t sure which one is best for you? In this video, I’m going to walk you through the different loan programs available for both construction and renovation loans. We’ll look at the qualifications and details of each type so you can choose the right option for your situation.

Your Financing Strategy

It’s important to choose the right loan because your financing strategy makes all the difference in the world. There are a few questions you’re going to need to answer before we can go to the next step.  read more

Filed Under: Loan Tips Reno, Renovation vs Construction Loans

Using A Renovation Loan: A Case Study

June 13, 2022 by Jim Potts

How would you buy a property that needs a new roof and additional work if the seller is unwilling to fix it? In this video, I’m going to share the case study of a borrower that was trying to buy a house through the FHA program—but got denied because of the property condition. I’ll explain how our innovative solution was able to get the borrowers the home they really wanted.

An Appraisal Denied

Although the borrower wanted this house, it needed some work. Anytime you’re trying to do FHA financing, they’re a little pickier on the condition of the property. In this case, we had a leaky roof and flaky paint, and it wouldn’t pass the appraisal. read more

Filed Under: Blog, Home Buying Tips, Loan Tips Reno, Renovation vs Construction Loans

The Best Loan Programs For Construction Or Renovation

June 7, 2022 by Jim Potts

Are you thinking about getting a construction or renovation loan but aren’t sure which one is best for you? In this video, I’m going to walk you through the different loan programs available for both construction and renovation loans. We’ll look at the qualifications and details of each type so you can choose the right option for your situation.

Your Financing Strategy

It’s important to choose the right loan because your financing strategy makes all the difference in the world. There are a few questions you’re going to need to answer before we can go to the next step. read more

Filed Under: Loan Tips Reno, Renovation vs Construction Loans

Can A Homeowner’s Association Charge Different Fines For The Same Violation?

August 7, 2020 by Jim Potts

Living in a multifamily community, whether this is an apartment building or a condo building, comes with certain bylaws. There are usually fines that are used to prevent people from breaking the rules.It is important for everyone to know what these rules are, why they need to be followed, and the penalties for breaking them.

Sometimes, homeowners are surprised when they realize they might be fined differently for breaking the same rule. There are a few points to keep in mind.

Filed Under: Fair Housing Tagged With: Fines, HOA Fees, Mortgage Tips

Six Key Questions to Ask when Hiring a Real Estate Agent to Market and Sell Your Home

August 6, 2020 by Jim Potts

How do you find someone you can trust who will make you feel confident they can sell your home quickly for the best price possible? Here are the questions you should be asking.

Filed Under: Home Seller Tips Tagged With: Home Sales, Real Estate Agents, Selling a Home

Comparing An Online And Offline Home Loan Application

August 5, 2020 by Jim Potts

The internet has changed how many people shop for a home and one of the most important issues that people will face is whether to fill out a home loan application online or offline.

Filed Under: Mortgage Tagged With: Applications, Mortgage, Mortgage Tips

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Jim Potts

Jim Potts


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Call (760) 337-8100
NMLS# 227144
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