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203k: What is The FHA 203h Loan? For Disaster Victims, find out more
- 09/04/17 09:06 AM
HUD(FHA) has a fantastic mortgage program for disaster victims called the FHA 203h. It is for someone who has been affected by a Disaster, such as Hurricane Harvey. It allows them to buy a new home with 0% down payment. Here are the specifics to know:
The home must be in a President Declared Disaster Area, to verify this you can check with FEMA to see the affected Counties
The FHA case number must be ordered within one year of the declared disaster. This means that they do not need to rush out to take advantage of this program, but rather … (11 comments)
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203k: The Right FHA 203k Loan for You
- 10/26/16 11:54 PM
If you are looking for the right FHA 203k for your needs, you have come to the right place. We offer what is called the Full FHA 203k. Unlike the “streamline” version that limits what repairs you can finance and limit you to a total of $35k in repairs. We offer a Full FHA 203k loan that allows you to make as much in repairs as you need as long as it is under the max FHA loan amount and the min amount of repairs is $5k. But enough with the boring details let’s talk about what is covered under this … (2 comments)
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203k: Are you Looking for a FHA 203k loan?
- 04/12/16 01:02 AM
If you are looking for a FHA 203k mortgage, you have come to the right place. The FHA 203k is a mortgage aimed at financing in the improvements to the property into your loan. This is perfect for homes that otherwise would not get financed due to work that needs to be done. Or possibly for a home that is undervalued due to it needing upgrades or improvements. To give a better idea on what repairs you can finance, here is a list of items that can be financed into our FHA 203k loan:
Repair or Replace your Roof
Repair … (0 comments)
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203k: Are You Looking for a FHA 203k Rehab Loan in Texas?
- 03/26/15 01:19 AM
If you are looking for a FHA 203k mortgage in Texas, you have come to the right place. The FHA 203k is a mortgage aimed at financing in the improvements to the property into your loan. This is perfect for homes that otherwise would not get financed due to work that needs to be done. Or possibly for a home that is undervalued due to it needing upgrades or improvements. To give a better idea on what repairs you can finance, here is a list of items that can be financed into our FHA 203k loan:
Repair or Replace … (2 comments)
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203k: $100 Down Payment Program on Hud Foreclosures is not what you think.
- 10/19/12 12:39 AM
The $100 down payment program when buying a HUD foreclosed home, is not what you think. A while back HUD changed their rules when purchasing one of their foreclosures. Now the loan amount can not be higher than HUD’s appraisal value. Which HUD's appraisal value is determined by a FHA appraisal that HUD has ordered. Here is how this will affect you buying a HUD foreclosure:
1. To qualify for the $100 down payment program the home must be bought for the list price or more, the list price is often the appraisal value. But on FHA loans the Upfront Mortgage Insurance fee … (0 comments)
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203k: What You Need to Know When Buying a Fixer Upper. In regards to a Mortgage
- 08/15/11 06:30 AM
With so many foreclosures on the market right now, it is a very exciting time to Buy a home. Fixer Uppers are those homes that seem like a great deal and only need a little TLC. But, when buying one you need to do your homework. As a Mortgage Professional, I have seen some homes that could not get financed due to needed repairs. So here are my suggestions on what to do to make sure your Fixer Upper Home can get financed:
1. Inspection- Any time you are thinking of buying a home, make sure you do an Inspection. No … (2 comments)
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203k: Which Mortgage is Best for Me? FHA, VA, Conventional
- 04/30/11 03:52 AM
When getting a mortgage it is important to know all your options. And then decide which mortgage is best for you. I can help you with this decision, but I also want to give you a short explanation of each of the major 3 mortgage programs: FHA, VA and Conventional. Here they are:
FHA LOANS
An FHA loan is insured by the Federal Housing Administration, a federal agency within the U.S. Department of Housing and Urban Development (HUD). The FHA does not loan money to borrowers, rather, it provides lenders protection through mortgage insurance (MIP) in case the borrower defaults on … (3 comments)
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203k: Do you need a Loan for Home Improvements or Repairs? FHA 203k
- 01/07/11 05:26 AM
Are you looking to update your Kitchen or maybe replace your roof? Or replace your AC unit? Do you need a new Septic system? Maybe you need all new appliances? A FHA 203k loan can help you with this. A FHA 203k loan allows you to finance these repairs and improvements into your mortgage. Here is a list of just some of the items that can be financed by a FHA 203k mortgage:
•· Repair or Replace your Roof
•· Repair or Replace your HVAC system, ex AC unit(s)
•· Remodel your Kitchen
•· Replace your Appliances
•· Repair or Replace … (6 comments)
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203k: Finance the Repairs/Improvements of the home you are buying or own with the FHA 203k Mortgage
- 11/08/10 02:39 AM
While few mortgage lenders offer it, FHA has an amazing mortgage program called the 203k. It allows you to finance the repairs or improvements of the home you are buying or even the home you currently own. It allows up to $35k in repairs to be financed into your loan and has a minimum of $5k. Here is a short list of the repairs/improvements that are allowed:
Roofs Gutters Repair and replacement of your HVAC systems, heating and cooling Plumbing and electrical systems Flooring Minor remodeling, ex kitchen Appliances Painting Windows Decks, patios, porches Siding Septic system Items that are not:
… (0 comments)
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203k: HomePath mortgage program for Fannie Mae Foreclosures
- 10/06/09 04:05 AM
The HomePath Mortgage Program is a GREAT program if you are looking to purchase a Fannie Mae foreclosure. The HomePath program is only for Fannie Mae foreclosures. The benefits are:
No mortgage insurance- this allows you to buy more home and/or have a lower mortgage payment No Appraisal- this saves the buyer the cost of an appraisal. More importantly it allows your buyer to buy a home that may need some minor work/repairs. Fannie Mae wants to sell these homes and by not requiring an appraisal it allows the home to get financed without having to fix any issues Down Payment is as little … (0 comments)
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HUD(FHA) has a fantastic mortgage program for disaster victims called the FHA 203h. It is for someone who has been affected by a Disaster, such as Hurricane Harvey. It allows them to buy a new home with 0% down payment. Here are the specifics to know:
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