We have sourced and found an investor who will fund an FHA FULL rehab loan. This loan is a little more complex than the 203K streamline or "lite" product that is limited to 35K. We have posted both slide shares below so that you can view the differences. The greatest thing about BOTH of these types of loans is the ability of the borrower to get money to fix up the home. If you qualify for the full loan amount, you can get this loan. It will carry a slightly higher interest rate, but I feel it is certainly worth it. Where can you get a loan based on the fixed up value of the home? Where can you have the funds available within 30 days after you close? Where can you get the best deals on properties-the pristine homes or the ones in a little tougher shape that don't qualify for traditional financing? More people should explore this loan. This loan can provide the money to fix up homes. Sometimes people fear the unknown. Review the slideshows and call with questions about either program. We ONLY fund loans in Minnesota. We are Minnesota mortgage broker based in Edina MN (a suburb within the Twin Cities).
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