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203k: How come more people don't use FHA 203k loans? - 02/14/12 03:31 PM
Knowledge & Experience Needed! How come more Realtors and customers don't use FHA 203k loans? It’s a great question!
The answer really lies in the fact that most lenders (in house mortgage companies for the Realtors) don't do the FHA 203k loan, or just don't do it well. Secondly, Realtors have fear about the FHA 203k loan because of past experiences with using the loan with inexperienced teams of people around them trying to secure the financing. This is a great loan for today's market. The product really should be offered out to more people and recommended to pretty much all first-time homebuyers and really any other type … (4 comments)
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203k: What is an FHA 203k mortgage? - 12/24/11 01:31 PM
What exactly is an FHA 203k mortgage? An FHA 203k mortgage is essentially a regular FHA mortgage. However, it has a special component which is an escrow account that allows the customer to be able to purchase or refinance a property and rehabilitate or renovate that said property. This little piece that's attached to the loan allows the customer to be able to do awesome projects! Things as simple as re-carpeting, tiling, painting, simple cosmetic repairs, and all the way to dealing with full-scale rehabilitation projects. This includes, but is not limited to, adding square footage, putting a second floor on a rancher, and taking a home down to the foundation and … (4 comments)
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203k: Common Misconceptions of FHA 203k Rehab Mortgages - 12/19/11 07:25 PM
There’s some really big misconceptions regarding the FHA 203k mortgage, we’re going to talk about a few here. The first one is that the FHA 203k rehab mortgage is hard. It’s not! This isn’t rocket science guys, it’s really not that hard. The truth is the program really comes down to the people that are involved and the people that you have working with you on the project. If you have a lender who doesn't know what they are doing, if you have a consultant who’s only done a few consultant reports in the last 10 years, if you’ve got a … (6 comments)
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203k: Have you seen the show “Property Brothers” on HGTV? - 12/18/11 03:59 PM
I got really excited one day when this new show came out called the “Property Brothers.” I swear when I watch the show I think that I may actually be related to these guys. I might be the third brother- the one that nobody knows about- the one that helps you to be able to finance the projects that these guys are doing!
So what do you think? Ok- so maybe I don’t really resemble these guys but I know how to help you get the money that you need to get these types of projects done!
FHA 203k Renovation … (1 comments)
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Jeff Onofrio
Mount Laurel Township,
NJ
More about me…
AnnieMac Home Mortgage
Address: 700 East Gate Drive, 4th Floor, Mt. Laurel, NJ, 08054
Office Phone: (856) 505-6717
Cell Phone: (609) 217-9409
Email Me
My blog is here to provide information regarding FHA and FHA 203K loans for both purchase and refinance. Updates, tips and advice regarding these loans and the industry is what you will find on this blog!
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