As a listing agent in Texas with our scorching summers we must have a working AC unit. So what happens when you have a great foreclosure listing but the AC condenser goes missing? The bank is unwilling to put any money into the property. What is your plan for getting this sold? An Escrow Holdback for that repair is the solution!
Another renovation loan in Texas is the Fannie Mae HomeStyle. This product may be used used on any property, not just ones owned by Fannie Mae as the name might imply. It’s also a great tool for investors who have properties in need of rehab or realtors trying to market homes “as is.” With this product [...]
In some cases that rehab is mandatory and in others the rehab is simply recommended or desired. In all cases, using an FHA 203k Rehab loan will do the trick. It offers the buyer a way to finance the costs and the seller a way to market the home in the “as is” condition.
Below are a few key points to keep in mind now that the construction piece of your FHA 203k loan in Texas has begun. We realize a lot of information has been presented to you so now we will highlight some of the key things to remember.
The worst thing that can happen is to make it all the way to the closing table and have one of these items happen to you.
Remember that a lender can review any part of your financial, credit or residency history at any point of the applicaiton process.
Home buyers in Texas are often asking what they can do to ensure a smooth closing. With all of the changes in this industry and to our Underwriting guidelines I have put together a small list of items, which if followed, will aid to make your closing a success.
There are many componets of an FHA 203k Rehab loan in Texas. Sometimes it’s good to get another prospective on the important pieces of this loan. Also it’s important to rememeber that a successful 203k loan takes collaboration from all parties, including the contractor.
Are you trying to buy a property that is in need of minor repairs and you have a seller unwilling to make those repairs in Texas? Would you like a program that allows you to not to have to come out of pocket with the funds for the repairs? Well if so I have a solution for you – our Escrow Holdback Program.
When doing an FHA 203k Rehab Loan in Texas there are a couple of things to consider. First of all the property maybe in poor condition and some repairs maybe required…such as foundation or roof repairs. Secondly there are the cosmetic upgrades that aren’t necessarily required but that will make the home more to your liking and these changes can add great value to the home.
As some of you may have heard HUD has officially announced their intention to make the following changes to the FHA loan program in Texas.
*This is not an offer to lend. 
Obama Refinance Plan For San Jose Homeowners AnnouncedHome Affordable Refinance Program Update Harp 2 Bay Area San Francisco California March 2012 Guidelines for Purchasing a 3 to 4 Unit Property with FHA Financing in Alameda, CA8 Year Fixed to 30 Year Fixed. You Can Choose Your Loan Term In San Jose
