P & R Conforming Loans in California?

There is the homepath, through Fannie and 203k under FHA. Most lenders provide both types of loans. Good luck

Many, Many, Many years ago you could, however most lenders now will not allow P&R loans. FHA has a 203K, and there's homepath, but that it. What Wells Fargo is offering is more of a Construction loan that converts to a conventional loan. There are 2 closings... your better off with FHA if it falls within their loan limits... WilliamAcres.com

It sounds like you mean a P & I (principal and interest) loan. Based on that, yes practically every other lender has that product and some at better rates, with better turnaround time. On top of that, Interest only mortgages are still available also with many lenders, as a means of keeping the monthly payment as low as possible. Please note, I am a mortgage broker with over 15 lenders available to compete with Wells Fargo.Otherwise you would need to be specific about what the "R" means.Jedd Nabonsal jeddnabonsal@gmail.com cell 310 433 1703 Pinnacle Bancorp

Jedd, it's probably not a good idea to correct the person asking the question with the wrong information. They meant a P & R loan just as they stated, also referred to as a purchase and renovation loan. If you don't understand the question, you are probably better off not answering.

Carl, as a Senior Mortgage Banker licensed to do loans in California working with a direct FHA lender we can and do offer both the 203k Streamline loan (under $35,000) and the FHA Full 203k loan over $35,000. We are also a direct Fannie Mae lender offering the HomePath loan. Please call me at your convenience at 623-340-0934 or you may email me at korene@wjbradley.com We can go over the criteria and the nuances of each loan program and review how they work for you.

We work with 40 lenders, incluidng WFB. Regardless of the P & R loan is can do for you, we probably can get you a better one through WFB than you can get yourself. I know this may sound a bit crazy, but it's true.However, I'm quite certain that 1 of our other 39 lenders, many of which are banks, will provide a much better loan to you from the standpoints of interest rate, loan costs, and completion time. Please feel free to contact me at 626-796-7712 of 626-644-2020.