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fha 203k rehab loan: Steps to getting a FHA 203k Rehab loan in NJ-PA-DE-CT-MD-MA - Purchases - 01/24/11 12:28 PM
So we have gone through a lot of different scenarios about FHA 203k rehab loans and we have done a bunch of question and answer sessions and we will continue to go down that path with this blog- but I think its time to give you a clear concise list of things to do. This will be a two part blog series that will include a checklist depending if you are looking to use an FHA 203k rehab loan for either a purchase or a refinance because each type of loan has its own steps. Some steps are the same but … (0 comments)
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fha 203k rehab loan: FHA 203K- Complete Teardown- NJ, PA, CT, DE, MD, VA - 01/10/11 10:36 PM
A customer I am currently working with found a great piece of property in NJ but the house that was on the property was old and in major need of work. After a little research this borrower found my blog and decided that there best option for getting this house was the FHA 203K rehab loan. The first question they had was "how much can we get?" After taking the time to go through the whole process with this borrower we decided the first plan of action was to get a feasibility report from a FHA 203K consultant- this typically costs … (0 comments)
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fha 203k rehab loan: FHA 203k rehab loans- Question and Answer- Part 2 - 01/13/10 09:29 PM
Hi guys- thanks for reading our last post about FHA 203k rehab loans. We have received a few more questions and as promised I am going to answer them here for everyone to read. I am hoping to have a few contractors and a good 203K consultant I know to do a Question and Answer here for you in the next few days. Enjoy the information and feel free to contact me with any questions regarding the FHA fixer upper loans!
Question #1- What are the steps when buying a house with a FHA 203k rehab loan?
I took this … (2 comments)
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fha 203k rehab loan: FHA 203k rehab loans- Question and Answer- Part 1 - 01/11/10 09:40 PM
I have been receiving a high number of phone calls asking questions regarding the FHA 203k rehab loan program. So I figured what a better way to start of the New Year by creating a series based around these questions. I will try to post each time I receive at least 3 questions- which means I should be posting daily :)
The questions I receive come from a variety of areas- from the simple "what is a FHA 203K" to the more complex "what is the FHA identity of interest form used for". If you do not see a question answered … (2 comments)
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fha 203k rehab loan: NJ-PA-DE-MD-VA Rehab loans - NJ FHA 203K - 11/10/09 05:17 PM
While most FHA lenders look down on repair escrows and wanting to hold back money on loans the easy way around this is the FHA 203K rehab loan. I am located in Mt. Laurel, NJ and recently my Realtors have been asking specifically for FHA 203K rehab loans because the banks are now requiring this as a condition to accepting an offer on bank owned properties, why?
This is simple- most foreclosures have work that needs to be done in order to satisfy HUD/FHA minimum property requirements. You cannot get around this with a typical FHA loan and the options are … (2 comments)
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fha 203k rehab loan: FHA 203K Rehab Loan- Scenario- Adding Square Footage - 11/09/09 08:10 PM
FHA 203K loans are great for borrowers who are looking to refinance and also for purchases. I wanted to use this blog, and the next few posts, to show you examples of how you can use the fixer upper loan for certain situations.
A customer of mine who has owned her home for the last 4 years decided to contact me about adding on some square footage. See in her community there are many homes that have 2 levels and the average square footage was around 2,000 square feet. When she came to me her home had 1,050 sq ft and … (2 comments)
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fha 203k rehab loan: FHA 203K Rehab Loans- Important things to know - 11/07/09 06:00 PM
There are some important features to remember when looking into a FHA 203K Rehab loan. These are great loans for buyers looking to purchase a foreclosure or short sale or for the home owner who wants to update or remodel there house. Below are a few important things to remember:
FHA loans are for primary residences only- you cannot be an investor and try to get a FHA loan or a FHA 203K rehab loan. This is really important- I cannot tell you how many calls we get from investors looking to utilize this program and or skirt the system. FHA … (2 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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