203k: Maryland FHA 203K REHAB loans
- 02/11/09 01:47 PM
203K REHAB LOANS Ø This loan allows a customer to finance the purchase price, or the existing balance, and the cost of improvements into the loan amount. Ø Loan amount is determined by using the after improved value. o Can lend up to 110% of after improved value up to the FHA loan limit. Ø Single close, fully amortized loan. Ø Work is completed after close. Funds are held in an escrow account and disbursed as the work is completed. Ø 1-4 units, Condos, mixed use properties; Owner occupied only. Ø 6 months to complete the work. Ø Eligible with … (0 comments)
203K REHAB LOANS;)
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