“If you have any clients who are looking to put an offer in the next 60 days you should encourage them to step up their efforts to put in an offer and get it accepted right away.” Pete Heaslet Mortgage Banker Monarch Mortgage (704) 256-3026 Whoa! If you’re currently looking at [...]
Buying a Foreclosure? Consider FHA 203 Rehab programs
If you’re a home buyer considering purchasing a foreclosure, FHA’s 203 rehabilitation programs might be a good fit for you. The programs are designed to allow a client to roll the cost of the home’s rehabilitation into the mortgage. Repair estimates must be submitted and performed by a licensed and insured contractor in order to [...]
Buying a Fixer upper? FHA 203 Rehab Loan
The FHA 203 rehabilitation loans are designed for clients interested in buying a home that needs repair. The 203 rehab loans allow the client the ability to roll the cost of the repairs into the loan amount. How many 203 loans are there? There are 3 types of FHA 203 rehabilitation loans. They are the [...]
2 Large FHA lenders open the doors wider
It looks like two of the Nation’s largest lenders may be backing off a policy that insisted on a minimum 620 credit score for an FHA insured loan. FHA’s minimum is 580; however, many lenders have required a 620 credit score for loan consideration. Ken Harney of Inman News reports – “With no fanfare or public [...]
Finding your first Home
Finding your first home can be a daunting task. With so many variations and styles it can be difficult to separate the things you need vs. the the features you want. This checklist can help bring some order to the process.
