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This funding mechanism necessitates a lender – in this case Bank of America – to work. Certificates of occupancy have already been issued for two other cottage-style buildings that house eight.
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Homestyle Loan Down Payment HomeStyle Renovation Loan – main street home Loans – The loan amount is calculated based on the sales price, or payoff if a refinance, plus total renovation cost plus, if the loan is a refinance, closing costs/prepaid items. An additional down payment is required if property is a condominium, second hone, investment property, and 1-4 unit properties.
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