Friday, May 28, 2010

Mortgage Minute 04-13-2010 FHA 203k

FHA 203K Rehabilitation Loans

Do you have buyers who need to fix up a home they’re looking to buy? FHA 203K Rehab loans may be the perfect fit. Call us for details. Here are a few bullet points…

• Loan amounts of up to 110% of Expected market value.
• Owner Occupied only (no investment properties)
• 1-4 units and condo’s
• 3.5% down payment
• Minimum FICO of 620
• No payments for up to 6 months if property is not occupied
• Gifts and co-signers allowed (no co-signers on multi-unit properties)
• Repair/replace roofs
• Repair/replace/add exterior decks, patios, porches
• Window and door replacement

Call us today to review your clients needs.

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