203K - No longer a dirty

By
Mortgage and Lending with Realty Funding Corporation

I am located in the Greater Kansas City Market.  As many of you are seeing, there is an ever growing surplus of foreclosed and short sale homes available.  Additionally, with the credit tightening, FHA has become a more viable option for many current and potential homeowners,both for purchasing and high LTV/CLTV refinances.  Yes, FHA has lessened the appraisal requirements, however, sometimes there are just a few small items necessary to bring the house up to par.  Maybe even adding new appliances or replacing carpet and/or paint for the client into the loan will help them with initial expenses for the home.

I was certified as a Renovation Specialist with Wells Fargo in 2000 and spent three years producing 203k loans in the MO and KS market.  I again have the opportunity to offer an INCREDIBLE product to the KS and MO market.  In fact, our company offers this product in KS, MO, TN, GA and soon to be OK, AL, and SC. 

Up to $35,000 additional funds to be allowed with contractor bids for the NEW STREAMLINED 203K loan.  This is not the old 203K.  We are closing this streamline K loan in less than 30 days.  Not only that, but we are a market leader in interest rate and closing costs as well.  Regardless of the intial inspection or items needed to be repaired, Every home qualifies for this program! (exception: structual integrity issues are excluded and not allowed under this program)

Other specialty programs: 

HUD Foreclosures using FHA 203b financing with only $100 down - Insured and Insured with Escrow eligible

Homestyle Renovation - Conventional program for rehabbing homes - even investor program

Investor - Purchase and Rehab Hard Money 100% up to 80% ARV

Take the time to call me to discuss this program or any other home financing need you, your family, friends or clients might need.  913-647-6080 x 6084.  I promise to open the door to more clients and sales opportunities with this phenomenal program!

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Re-Blogged By Re-Blogged At
Location:
Kansas
Groups:
Christianity and Real Estate
ABR-Accredited Buyer Representatives
Overland Park
Leawood Real Estate
Overland Park Real Estate
Tags:
renovation
ks
foreclosure
mo

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Anonymous
seansred1@hotmail.com

I was interested in info on 203K rehab loan for my daughter. She is currently buying an old rental contract for deed. This house needs repair. However, she is a full time nursing student, single parent, with an income of part time work and student loans. Her credit is fair.

Would she even be a candidate for this program?

Thanks Leslie

Sep 10, 2008 09:06 AM #1
Rainer
1,627
Scott Webb
Realty Funding Corporation - Overland Park, KS

Her income would have to cover her debt for qualifying.  One of the nice benefits of the FHA program is family may co-sign as a non-occupying co-borrower.  This allows the qualifcation process to include all income and debts of all parties.  It is a great program and would allow your daughter to personalize the home and reap increased value in the home.  By the way, the "income" from student loans is not able to be counted.  However, the student loans she has incurred do not have to be counted against her if they are deferred for at least 12 months.  I hope this helps

Oct 16, 2008 06:07 AM #2
Ambassador
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Fred Griffin Tallahassee Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

   We invite you back to ActiveRain in 2018!

Much has changed since you last posted to ActiveRain.  I encourage you to take another look at the website.  

  Best to you!

Mar 16, 2018 08:38 AM #3
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Rainer
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Scott Webb

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