Can non profit organizations have access to the FHA 203k loan guarantee program?
this article will give you the information you need to get your non profit on the way to doing an FHA 203k project to benefit their organization and the surrouding community, anywhere in the USA.
Why would a non profit want to use the FHA 203k loan guarantee program?
Most non profits have a specific reason as their mission. Some want to assist in drug rehabilitation, while others may be a church and be active in their community. In either case they both can access the FHA 203k loan program as it is often called.
Consumers can purchase a home from a non profit who has just fixed it up.
Why not, the non profit has purchased a home, fixed it up and has to sell it for a low margin of profit. It makes perfect sense for a person to purchase that home and get a home that is all fixed up at a bargain price. It is the best of all worlds.
Why would a Realtor cater to non profits?
You teach them how to do it and get them qualified to purchase and they do it over and over and over and, enough already. That is what I used to like about the investors as well. Once you teach them it becomes a machine that buys homes, and more homes, and "you get the idea". If you have a non profit interested in regentrification of your neighborhoods we finally have a lender ready to move on it, and so many won't. It does take a bit more to get them qualified and ready to start buying properties but not on your end. The non profit has to jump through some hoops that is why only a few will do it. A few could mean an additional 6 to 10 homes sales per non profit per year. How many non profits shall we set up?