The Nines Team in Lodi with Steve Ewing and Jack Mossman has a booth at the Farmers Market and they are quite informative. They have a quesiton and answer guy or gal to address various aspects or products that make the borrower more informed.
We have been invited to be there to help with FHA 203k questions and answers on July 14th from 5 pm till dark. Hope to see all you locals there, Bring your questions and we'll be there to provide your provocative answers and hopefullly open your eyes to some aspects of the 203k that you will find enlightenyou.
So many people think the 203k loan program is new and made for this economy, well, it is new and perfect for this economy. It started in 1961 so it is only 50 years old but the new part is that the loan limits are so high now that it is new to many neighborhoods.
Get yours while these higher limits exist. They will go away sometimein the future once the economy improves but you need to act now. Where else can you get a 3.5% down payment and get all the money to make your renovations? Purchase or refinance is okay.
Have you ever heard someone say, "I wish I'd heard about this loan two months ago when I purchased my home" thinking they had lost.. NOT the case at all. They can refinance now and get the money for the renovation... if it is within six (6) months of their oriignal purchase they can use the money they put down when they bought the home as money they have into this transaction... Hooray! It isn't too late.