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203K Loan Closings in 2011
One of the most common questions I get from potential 203K loan customers is “do these loans actually close?” I like that question, it usually means the customer has done some research, they have read the horror stories on the internet and know the potential for disaster if a 203K loan [...]
What Type of Homeowner’s Insurance Do I Need for a Renovation Loan?
I am not an insurance agent, but I do have several excellent referral partners that have educated me on the differences in the insurance companies and their policies in relation to a standard home purchase and a purchase + renovation transaction.
My job is to [...]
I Have No Equity, Can I Get a 203K or Homestyle Refinance?
Although FHA 203K and Fannie Mae Homestyle loans are mostly based on after repair value, they still have a caveat that prevents many homeowners from utilizing them for refinances.
Renovation loans – the FHA 203K and the HomeStyle both require TWO values to work. [...]
HomeSteps vs. HomePath – What’s the Difference
Clearly, we have delved into Fannie Mae HomePath and HomePath Renovation loans in depth, but this is the first time I have stepped into Freddie’s HomeSteps program. So, what is Homesteps?
Not sure why it has taken this long, maybe because Freddie themselves lacked articulation on exactly what the heck [...]
Hey! What Happened to MY Earnest Money?!
Hey, I gave my real estate agent a $5000 Earnest Money Deposit check… Where does that money go?
What? Just trust us right? Absolutely not, know, check and follow where your purchase earnest money goes, stays and is held.
I don’t know a first time home buyer who does [...]
HUD $100 Down – Atlanta, GA Pick of the Week
This HUD 203K special is perfect for the Atlanta Braves fan. This home is located near one of Atlanta’s most desirable neighborhoods, historic Grant Park. Walking distance to Turner Field
Even if you hate baseball, it”s a pretty sweet deal for everyone in fact. Check out the specs.
$99,000 [...]
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Understanding the Energy Efficient Mortgage (EEM)
Designed by HUD as a way to add incentives for home-owners to pursue GREEN and ENERGY EFFICIENT improvements on their next home purchase or home refinance, the EEM (Energy Efficient Mortgage) was created.
An energy efficient mortgage recognizes that by increasing the overall efficiency and lowering a home’s energy consumption that the [...]
Investor Renovation Loans
2011 and beyond presents an amazing opportunity for real estate investors. Whether you are buy and hold or fix and flip, whether you are in Alabama, Georgia, Florida, South Carolina or Tennessee – it doesn’t matter, the market is RIPE!
If you are a cash investor then have at it, the world is yours. [...]
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