hi im a realtor and ive never written an offer using the fha 203k loan: Hi I'm a Realtor and I've never written an offer using the FHA 203(K) Loan - 02/20/11 11:55 PM
Hi I'm a Realtor and I've never written an offer using the FHA 203(K) Loan
Once you receive the written Pre-Approval from the lender and your buyer has located a property make the offer with a provision in the sales contract that "The buyer has applied for Section 203(K) Financing and "The contract is contingent upon loan approval and the buyers acceptance of the additional required improvements as determined by HUD or the lender.
The expense of the Preliminary Feasibility Analysis is charged to the buyers of the property in advance of the loan closing but is refunded back to them at … (5 comments)

 
I give consultations on Government Home Loan Programs. I advise on how to use these loans to Buy and Sell more homes. Many of todays home buyers are first time home buyers; will have limited funds to put down and will have no money for needed repairs or desired up-grades. Many will be younger and will have marginal incomes. The USDA Loan and the FHA Loan are designed to address these issues. The USDA loan offer 100% Financing while the FHA 203k loan program is attracting a lot of attention from the more sophisticated buyers of aging and bank owned properties.


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