ATTENTION ORIGNIATORS:

If you are not offering or don’t know about the FHA 203(k) Rehab Loan, you’re missing an excellent opportunity to distinguish yourself as a Professional and create a niche that most originators have no clue about.

Offer this loan to Purchase, Refinance, Remodel, Make a Home Handi-Cap Accessible, Add a Bed Room, a Family Room, a Garage, a Separate Unit for Grandma & Grandpa or when the Kids move back (heaven forbid).

Having been the 203(k) Consultant on over 1500 projects, I’ve consulted on all of the above & more . . .
Call me to discuss your scenario today!

Qualified Transactions = Multiple Marketing Channels:

• Purchase and Renovate a home- Short Sales, Foreclosures, “Fixer-Uppers”, Etc.  Find a
  bargain for your buyers and help them turn it into the home of their dreams.
• Refinance- Work with homeowners wanting to renovate, remodel or upgrade.
• EEM Refi- Energy Efficient Mortgage Upgrades, including SOLAR OK.-
• Work with local remodeling contractors and EXPAND your referral network.
• Investors- Program qualifies for Investor Purchase on HUD OWNED REO properties ONLY.
• New FHA LA LIMIT INCREASES WILL APPLY (when they go into effect).

What is Renovation Lending?

• Renovation Lending is simply adding the cost of repairs and improvements into the mortgage to
  purchase, refinance or remodel a home or multi-unit building
• A Renovation Mortgage is a single, first lien position mortgage that is fully disbursed at closing, all commissions, costs, etc. are paid. An escrow is then established, at close, to disburse rehab funds

Property Types:

• Same that qualify for FHA-OO, just like a 203(b), with a twist.
• 1-4 units, including converting a SFR, by adding units, convert 5 or 6+ units to 4 units
• Condos and town homes- interior renovations only , which have been FHA approved 
• Mixed use- as long as the commercial use is under 25% – retail at street level or below and living area above or behind.

Selling Points:

• Differentiate yourself from other lenders/LO’s and create a highly profitable niche
• Loan closes in normal time frame.
• Seller’s are no longer responsible for doing repairs, good for buyers because sellers will do repairs as cheaply as possible.
• Customers can create equity, fast!

Use this loan to get your clients into a home, get it remodeled, then refi them into their new loan with better rates and payment . . . how many loans is that?

Call me to discuss your scenario today!