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… [Continue Reading]
Buying a Fixer upper? FHA 203 Rehab Loan
March 19, 2011 By 1 Comment
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… [Continue Reading]
2 Large FHA lenders open the doors wider
January 31, 2011 By Leave a Comment
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… [Continue Reading]
Finding your first Home
July 29, 2010 By 1 Comment
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.
What is Short Sale
May 3, 2010 By 1 Comment
A short sale is a real estate sale in which the sale proceeds fall short of the balance owed on the loan. A short sale does not always indicate the homeowner is in trouble, it can occur if the market or area where a home is located has decreased in value beyond what is owed… [Continue Reading]
