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"FHA 203K"
203K Loan Potential by State
Despite the efforts of incompetent loan officers and renovation lenders, the FHA 203k loan is still extremely important to the restoration of our housing market.
Without the 203K Loan buyers will lack the mortgage loan to purchase and renovate our foreclosure stock. Without a foreclosure purchase and renovate financing option unkempt foreclosures will [...]
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 [...]
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. [...]
FHA 203K Loans – Rates and Costs
Most mortgage conversations start with one question, what is my interest rate? It’s an important question for any potential home-buyer no doubt.
However, when it comes to specialty loan products like the 203K, HomePath Renovation, USDA Rural Home Loans or Construction Loans you need to place as much emphasis on mortgage [...]
Cash Purchase Now, 203K Loan Later?
If I had a dollar for every time I got this call I would not be typing this post right now, I’d be on the beach. Better yet, if I had a dollar for everyminuteI’ve wasted on the phone going over this I’d not only be on the beach, I’d [...]
Atlanta 203K Deal of the Week – HUD $100 Down
Hud Homes in Atlanta are available for$100 down if you are purchasing as a primary residence. You can purchase AND renovate with a 203K Loans all for $100 DOWN.This HUD Foreclosure is an example of some of the AMAZING deals available on the market. If you [...]
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