203K Streamline - Home reno loans

By
Mortgage and Lending with Guild Mortgage Company

 

Can't get a home equity line for home improvements?

 We have the perfect rehab loan program that will give you the home you have always wanted.

  

· Virtually any kind of improvements are acceptable with the exception of pools and luxury items

 

· 50% of the improvements are disbursed shortly after closing (the remainder upon completion)

 

· Loan amounts available up to the maximum Jumbo FHA limit for your area

 

· No inspection required for repairs up to $15,000

 

· Maximum of $35,000 for repairs and rehabilitation

 

· Minimum 580 FICO score required

 

· Improve an existing home instead of moving, or buy a foreclosure or bank owned property that may need repairs

 

 

Comments (1)

Jon Boyd
Home Buyer's Agent of Ann Arbor - Ann Arbor, MI
Ann Arbor Real Estate Buyers Agent

Jason,

Thanks for the information. Has your office started doing the new streamlined 203K you mentioned?

If you've had some closings, about how long did they take contract-to-closing?

Regards,

Jon Boyd

Dec 05, 2008 05:13 AM