Posts By Jonathan Blackwell(203K Expert)
Location
Georgia
Phone: 404-551-3845
Posts
President’s Obama’s revamped Home Affordable Refinance Program (HARP) is expected to help thousands of Metro Atlanta homeowners take advantage of today’s low interest rates and SAVE.
FHA 203K loans are versatile & perfect for our foreclosure driven market. CURRENT condition of the property is NOT a concern. All the property issues that plague traditional FHA Mortgage Loans CAN & WILL be addressed in the post-close RENOVATION of the property.
All in all FHA 203K loans are not that much more difficult from the Realtor’s side. This is especially the case if you have chosen an experienced RENOVATION SPECIALIST to work with. Writing the purchase offer is the first step to a successful transaction.
10 Ways Renovation Loans Create HUGE Value The rates are too high. They take too much time. My Realtor says that product sucks. No, No and No. FHA 203K along with it’s conventional renovation cousins; Fannie Mae HomePath and HomeStyle are leading a renaissance in today’s mortgage and real estate market. Buyers (and the smart [...]
The HomeSTYLE and the HomePATH Renovation are both Fannie Mae offerings. The HomePATH is available ONLY on Fannie Mae owned foreclosures while the HomeSTYLE is NOT property specific.
HomePath Renovation Mortgage allows a borrower to purchase a property that requires light to moderate renovation. The one loan amount includes both the funds for the purchase and renovation – up to 35% of the as completed value, no more than $35,000. Cosmetic repair ONLY. Great loan for owner occupants and INVESTORS!
I get more questions from contractors and homeowners about how the 203K draw process works then I do about any other aspect of FHA 203K Financing. While the information I am about to tell you may vary some from lender to lender it is all basically the same. One exception being a certain large bank with “America” in its title.
Home Improvement Loans With the our housing stock aging, new construction inventories dwindling and the suburban flight back to urban America the need for renovation and home improvement loans has increased dramatically in recent years. When most think of home improvement financing the first thought that pops up is your good old Home Equity Line [...]
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