Great Rehab Program from FHA

A great way to purchase distressed properties, foreclosures and short sales!!!! 

NEW HOT PROGRAM!!!

FHA 203K REHAB

FHA 203(k) provides a cost-effective, single-close loan that enables borrowers to purchase a home that may need repairs, or refinance their existing home for the purpose of remodeling.  Additionally, when you offer the Streamline 203(k) limited repair program, borrowers can finance up to an additional $35,000 into their mortgage to improve or upgrade their home before they move in.  Both programs include the necessary funds for the renovation by financing the "as-completed" value of the home, rather than the present value.

TARGET MARKET:  An attractive option for borrowers who:

•·          Are looking for a cost-effective way to renovate, repair, or improve

•·          Would like to rehabilitate a foreclosure that has been neglected or damaged by the previous occupant

•·          Would like to convert a single-family unit into a multi-family unit or vice-versa

•·          Want only one loan, with one closing and underwriting review for both rehab and permanent financing

•·          May not qualify for conventional financing

•·          Would like to avoid having to obtain a second mortgage or HELOC for repairs, renovations, and improvements

•·          Would like to obtain financing based on the "as-completed" value of a home

•·          Want to improve their home and neighborhood

 To find a home in Panama City Florida, go to www.knowpayneknowgain.com