renovation: FHA 203k Rehab Loan Quick Tip: Utilities Being Turned On At Closing - 03/24/09 01:27 PM

FHA 203k Rehab Loan Quick Tip: Utilities Being Turned On At Closing
Most Conventional loans including Conventional 203k Rehab/Renovation loans require from the lender to have all the utilities on and fully working at the time of closing.
FHA Loans and FHA 203k Loans are a differen't beast however and doesn't fall into this myth....
At the time of closing, if the 203k loan is running behind or is not set up to have all the utilities to be turned on there is a solution.  You can increase your contingency reserves in order cover the utilities not being turned on … (1 comments)

renovation: FHA 203k Streamline vs 203k Full Renovation - 06/13/08 03:57 PM
Renovation Lending
The main concept behind these loans a.k.a Rehab, Renovation, 203k and Home Improvement loans is quite simple, clients who wants to finance the costs of home improvements through the mortgage for a purchase or refinance.
Financing the costs of the home improvements through the mortgage can be cheaper than high interest credit cards, emergency savings and high interest unsecured loans.
 

Don't worry about the appraised value if the house is in bad shape, the loan is based on the after improved value of your improvements.
Typically these loans can close in 30-45 days, with contract work started … (15 comments)