Â Â Â How Many Real Estate Professionals Have Closed A 203k Short Sale?
Â 203k Short Sale -Â
Call Now Â 323 309-9722 - We Can Help! - firstname.lastname@example.org
Short Sale buyers are starting to taking advantage of Â a little-known renovation loan that only requires a 3.5 percent down payment.Â The FHA renovation mortgage [ 203k & 203k Streamline ] can close in as little as 30 days and allows for $30,000 in renovations to the buyers home. A standard 203k can be much higher!
The interest rate is 4.25 percent over 30 years. And, once the project is finished, homeowners will have instant equity. That's because, unlike other kinds of loans, the loan amount is based on the home's appraisal after the renovations are finished.
A 203K loan, is a 30 year FHA-insured Mortgage created strictly for renovations. Borrowers can bundle this loan with the mortgage when they purchase a house. A 203K Loan can also be used Â for renovations on a home you already own.
The Next Big Thing!
The number of 203k loans granted has nearly tripled in the last five years, from more than 3,600 in 2007, to nearly 13,000 as of July of this year, according to federal figures.
203k Short Sale is now being called Â "the best kept secret in the industry."Â
Savvy Realtors are Not talking, they are closing deals Big Time said one 203k Short Sale Expert!
The Up Side of a 203k Loan:
If the borrower is planning a significant renovation, which is almost always the case when dealing with a Short Sale, the 203k borrower will need to find a building contractor who understands the FHA 203k Â guidelines. All construction must be completed within six months. This is a federal government product, so you'll have some red tape to deal with. Builders need to be approved, as do plans, as do budgets.
At Same Day 203k Consulting, we help educate homebuyers we guide them through the FHA 203k Loan Process.Â Many of our clients are first time homebuyers. We take pride in our work, as trained professionals we are dedicated to our clients, and servicing their needs.Â We work with most lenders and mortgage companies. We combine the industryâ€™s latest 203K software with years of experience, and expertise.Â Our goal is to help our clients save time and money, and close their 203k Construction Projects on time and underÂ budget.
On The Move
Today Wells Fargo does about one-third of the 203K loans written nationally.Â
Bank of America, which reintroduced the 203k loan program in 2009, has Â seen interest in the program nearly triple.
The Â biggest challenge, and opportunity, is buyer and Realtor awareness."
When experience matters, demand the best 203k consulting service in Southern California.
Same Day 203k Â Â Â Â Â Â Â
Serving Los Angeles County!Â Â Â Â Â Â Â Â Â Â Â Â Call Today for a Free Consultation....
Â Call Us Now 323 309-9722