The Key To Successfully Closing A FHA 203k Renovation Mortgage In 45 Days or Less is......
EXPERIENCE!
Yes, it is possible, regardless of your experiences in the past or what you have heard it is possible to close an FHA 203k Renovation Home Loan in 45 days, maybe less.
If you don't know the experience level of your FHA 203k Renovation Team you are only asking for trouble, delays and the risk of the loan never closing period. And just because you found it on the internet doesn't make it true.
A Recent study released by HUD regarding the FHA 203k Renovation Mortgage Program stated that after all work was completed homes that utilized the FHA 203k Renovation Home Loan had over 22% equity in the home. Imagine what that can mean to a new home buyer who has bought a fixer upper with a 3.5% down payment or the home owner that is wanting to sell their home in the near future but has little to no equity in their home to realize that needed profit. Buying … (1 comments)
'What mortgage programs are available for first time home buyers?', I have been a mortgage lender in the St. Louis and St. Charles Mo area for going on 20 years and I seem to be asked that question nearly every day.
That question has meant many different things to the person who was asking, they were looking for easier qualification, less down payment requirement, no down payment, down payment assistance, lower credit scores and so many other things.
In my 20 years … (2 comments)
renovation: Writing a Sales Contract with FHA 203k Financing
- 05/01/13 06:15 AM
HOW TO WRITE A SALES CONTRACT WITH FHA 203K FINANCING IN ST. LOUIS AND ST. CHARLES MO. This article is written by a Mortgage Loan Officer who has no experience writing real estate sales contract but has closed 100s of FHA 203k Renovation mortgages plus HomePath Renovation and HomeStyle Renovation loans over a 15 year career. My experience as a Renovation Mortgage Specialist and Certified FHA 203k Specialist provides a unique insight that has assisted many home buyers and their real estate agent with this highly useful and unique mortgage program.
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