Tag Archives: 203k contractor

Buy Low and Renovate! Mortgages Can Pay For Home Renovation

Posted on September 16, 2011 by admin

Two little-known home renovation mortgage programs offer solutions for buyers and homeowners who want to renovate. Fannie Mae and the Federal Housing Administration have home renovation mortgage programs that allow buyers to borrow based on what the house is expected … Continue reading →

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Can I Use The 203k Renovation Loan to Buy a Condo?

Posted on September 14, 2011 by admin

The simple answer is YES, but there are a few simple guidelines you need to follow. Section 203(k) home rehab mortgages may be used for individual units in condominium (condo) projects that have been approved by FHA, the Department of … Continue reading →

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Low Rates, Rising Pessimissm

Posted on September 11, 2011 by admin

By: Diana Olick CNBC Real Estate Reporter “The numbers don’t add up. Mortgage giant Freddie Mac reports the rate on the 30-year fixed hit a new record low of 4.12%, at the exact moment that cohort Fannie Mae released its … Continue reading →

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Summer Home Sales Up. Slowing This Winter?

Posted on September 8, 2011 by admin

Clear Capital said home prices rose 4% in the second quarter, but the real estate data firm warns rocky times lie ahead. Still, gains made in the summer are likely to be short-lived with consumer confidence weakening toward the end … Continue reading →

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What is a Homepath Renovation Mortgage??

Posted on September 7, 2011 by admin

With the number of REO properties increasing, I’m being asked more often about HomePath financing.  HomePath financing is available for Fannie Mae REO’s with the HomePath logo found on HomePath.com.  There are approximately 300 properties in Sacramento today that are … Continue reading →

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Use the 203K Loan for a Refinance??

Posted on September 3, 2011 by admin

It’s no secret.  Interest rates are excellent right now. They are hovering near all time historical lows. Homeowners all across the nation are cashing in on this opportunity and lowering their monthly payment, fixing their adjustable rate mortgage or consolidating … Continue reading →

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Use 203k Loan to Update Before You Move In

Posted on September 2, 2011 by admin

This home in Winchester, CA needs some minor repairs to be move in ready. But some simple fixes can also be expensive. Use a 203k renovation loan to fix up your new home with no money out of pocket. By … Continue reading →

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Lending Shrinks, Analysts Doubt

Posted on August 29, 2011 by admin

Analysts at Bank of America Merrill Lynch doubt government attempts to improve the mortgage refinancing process will help lenders build capacity. “The economics of the mortgage lending industry have changed,” the analysts said. “Originators used to have 2-3 points of … Continue reading →

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HUD Good Neighbor Next Door and 203k Programs

Posted on August 24, 2011 by admin

How can you buy a house for half price, remodel it any way you want and move in with equity in your pocket? The answer is by using HUD’s Good Neighbor Program and combining it with their 203k Renovation Loan … Continue reading →

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What is The FHA 203k and What’s In It For ME?

Posted on August 12, 2011 by admin

When it comes to real estate today, there’s a program that covers home buyers and homeowners alike. Whether it’s repairs or renovations on a purchase, or upgrades, improvements or redecorating the home you own, many projects can be financed through an FHA 203k mortgage loan. Continue reading →

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