fha 203k: How the FHA 203k Renovation Loan Saved the Day For A Family In Texas
- 03/05/14 10:28 PM
Here is a story of how the FHA 203k Renovation loan saved the day for a family in Texas. While searching online these borrowers came across information about the FHA 203k Renovation loan. They called me and explained their situation...they own a home and were in the middle of a renovation project when their contractor walked off of the job. Luckily all of the bills were paid and there was no lien again the home. Also he did complete the work he started so we were able to pick up where he left off. After structuring this as an FHA 203k … (0 comments)
fha 203k: Home for Sale in Denton, TX
- 01/05/14 10:41 PM
Homes for Sale in Denton, TX Denton is a city in the U.S. state of Texas and the county seat of Denton County. As of the 2010 United States Census, its population was 113,383,making it the 27th most populous city in Texas and the 11th-largest city in the Dallas–Fort Worth metroplex. A Texas land grant led to the formation of Denton County in 1846, and the city was incorporated in 1866. Both were named after pioneer and Texas militia captain John B. Denton. Selling a home? Get a free Market Analysis of your home and find out its value in … (1 comments)
fha 203k: Understanding How a Renovation Loan Works
- 12/09/13 06:35 AM
Understanding how a renovation loan works is key to for a successful closing! Every renovation loan (from FHA 203k to Fannie Mae HomePath or HomeStyle) can present a different scenario although the basic flow or process of the loan is similar for all renovation loans. Simply put these loans only have the added step of obtaining a bid from a general contractor and ordering the appraisal for the after improved value but let's look at it in a bit more detail. The basic structure of the product works like this: *Home goes under contract for the “as is” purchase price *Buyer … (1 comments)
fha 203k: Homes for Sale in Plano, TX
- 11/25/13 02:02 AM
Homes for Sale in Plano, TX Plano is a city in the state of Texas, located mostly within Collin County. The city's population was 269,776 at the 2010 census, making it the ninth most populous city in the state of Texas (Corpus Christi is ranked at #8 and Laredo is ranked at #10) and the 70th most populous city in the United States. Plano is located within the metropolitan area commonly referred to as the Dallas–Fort Worth metroplex. The city is home to many corporate headquarters: Alliance Data, Cinemark Theatres, Dell Services, Dr Pepper Snapple Group, Ericsson, Frito-Lay, HP Enterprise Services, Huawei, … (0 comments)
fha 203k: Did You Know? FHA 203k Answers
- 11/19/13 11:24 PM
With inventory low the FHA 203k loan is hotter than ever! Wanted to share with you some of the common misconceptions about the 203k loan. Take a look below and find questions and answers and hopefully this will help you with the purchase or sale of a property.
Can foundation work be rolled into an FHA 203k and a HomeStyle Renovation loan? YES! Got 2 calls about this just yesterday one from a Realtor and one from a buyer. The Realtor was very excited to hear this loan really does exist!! Her seller refused to pay for any foundation work as he … (2 comments)
Your first and obvious choice is to purchase the home “as is” and either pay for the repairs out of your own pocket or take out a home improvement loan. Home improvement loans are more difficult to get and come with a much higher interest rate. Also in some states, such as Texas, there are loan to value restrictions. Lets take that one step further and what if that home is in need of structural … (0 comments)
fha 203k: Three Tools To Help Home Shoppers
- 10/02/13 08:03 AM
In this fast paced marketplace having the tools in hand is essential to finding your new home. Your Realtor is definitely your most valuable asset however I’m come across some online tools that you might find useful in the course of your search. In a world full of mobile and smart phone devices why not put the technology to work for you?? To being your search I’m sure you want to locate the market you wish to purchase in. There are a ton of sites to help but one of my favorites is HomeSnap. This site combines the best of Zillow … (0 comments)
fha 203k: Writing a Sales Contract for A Renovation Loan in Texas
- 07/24/13 06:23 AM
Writing a sales contract for a renovation loan in Texas is a very simple process. In today's housing market finding a home that is move-in ready or newly constructed is not an easy task. This is where knowing about renovation loans comes in handy. As a buyer in this marketplace, it's nice to know that there are options to purchase and renovate. Also in Texas with our heat and foundation issues there are options for foundation repair using either the FHA 203k rehab loan or the Fannie Mae HomeStyle renovation loan. So to write the contract it is really just … (0 comments)
fha 203k: Foundation Repair in Texas with the FHA 203k Loan
- 07/10/13 08:47 AM
In Texas foundation repair is a needed by most homeowners. It’s not uncommon to find a previously owned home that has foundation issues. In fact it’s not uncommon to own a home that has foundation issues. This should never be a reason to walk away from any home. Especially if you need help financing the repairs since the FHA 203k renovation loan and the Fannie Mae HomeStyle loan WILL allow you to finance the costs of the repairs. This is true of a purchase and a refinance.
If you happen to notice cracks on the interior walls, large trees planted close … (0 comments)
fha 203k: FHA 203k Rehab Loan vs. Fannie Mae’s HomeStyle Rehab Loan
- 08/09/11 10:13 AM
It is important to assess all options when looking for a rehab loan. You have multiple options. This can be for purchasing a new home, or doing a refinance of your current residence. Your two options are very different. The key is to find the loan that meets your needs. It’s my goal to make that selection easier. Today, I’d like to compare and contrast the FHA 203k Rehab loan vs the Fannie Mae HomeStyle Rehab loan. Both loans are essentially “one time close construction loans” but they carry different requirements and have different restrictions on what can be repaired or … (0 comments)
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