Many homeowners’, however, also have some renovation needs they’d like to take care of as well. However, due to lower loan to value’s and declining property values they don’t think they have the room pull the cash out and go to work. Stand corrected homeowners! Intro the FHA 203K for refinance!
Atlanta, Georgia - 404-551-3845
The 203k Renovation Loan in Texas is a great way to purchase a new home in need of repairs or renovate your current home. Think of it as a one-time-close construction loan but with more relaxed standards because it’s insured by FHA. below are some of the highlights and some useful information but to discuss your unique situation or to apply please give me a call today.
Dallas, Texas - 972-407-7922
Is the 203k loan a good idea to purchase a bank foreclosure in Baltimore, Maryland?
Most (Real Estate Owned, Bank Owned) houses are run down. That is why banks sell them so cheap.
The problem is that financed buyers can’t buy houses with holes in the walls, broken windows, missing bathrooms, filthy carpets, etc. Or buyers don’t [...]
Baltimore, Maryland - 410-963-2308
The FHA 203k Rehab loan in Texas is a wonderful program for buyers who don’t have the 20% down payment required for a conventional construction loan
Dallas, Texas - 972-407-7922
Conventional financing won’t work on an unfinished property. FHA 203K loans require a Certificate of Occupancy which is unattainable if the property was never finished. If you lack the funds to purchase in cash you have but one option, the FANNIE MAE HOMESTYLE renovation loan. How does it work?
Atlanta, Georgia - 404-551-3845
The FHA 203k loan allows you to purchase one of these properties and roll the cost of the repairs into the loan. The loan allows you to use the “after improved value” so the construction money can be rolled in the loan then draws are made for the improvements with the end being one loan with a great low FHA rate!
Dallas, Texas - 972-407-7922
The 203(k)loan was designed to render aid and help get these homes sold. The borrower can get just one mortgage loan, at a long-term fixed rate, to finance both the purchase and the rehabilitation of the property. To provide funds for the rehabilitation, the mortgage amount is based on the projected value of the property with the work completed, taking into account the cost of the work.
Dallas, Texas - 972-407-7922
As the first time home buyer and move up buyer credit gets closer to expiration it is quite apparent that there will be more activity of shoppers in a frenzy to make offers on the existing inventory. Another catalyst to create the “perfect storm” for some home buyers is the speculation that interest rates will [...]
Carlsbad, California - 760-536-6200
An excellent path to a super deal on a home in Portland is the FHA Good Neighbor Next Door (GNND) purchase program for law enforcement, teachers and emergency personnel. The GNND program allows these buyers to get a home at half price if they live in it for at least three years as their principal residence. Right now there are four such properties on the website in Portland, including this one:
Eugene, Oregon - 541-342-7576
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