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203k Loan All Locations : Nationwide Real Estate Advice

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Showing results for 203k Loan [Clear search]
Mon Jan 31, 2011
The Roskelly Team answered:
Hi Beautiful,

A HUD home is a home that was purchased using an FHA loan (a government backed low down payment loan) and then was foreclosed upon. You can view HUD foreclosed homes on-line through a local MLS link or on the HUD website www.HUD.gov. Contact a HUD knowledgeable agent to view and bid on these homes. They have a list of them right on the website! Best of luck. ... more
0 votes 5 answers Share Flag
Sun Feb 6, 2011
Tony McMahon answered:
Lisa , you should consult with your agent about your options. If it were obvious from the onset that a straight FHA was not going to fly , you probably should have sought out other lending possibilities initially. You may be able to negotiate lender required repairs once you receive the apraisal conditions. ... more
0 votes 3 answers Share Flag
Wed Feb 23, 2011
David Smith answered:
Jerry,

I believe the loan you are talking about is the 203k loan. This is a federal loan just like other FHA and VA programs so lending limits should be the same throughout lending institutions. Your best bet would be to check with your local lender. If you need a referral to one I would be happy to provide that.

David
Real Estate Broker
www.bigsoundhomes.com
... more
0 votes 8 answers Share Flag
Wed Aug 3, 2011
Melissa Barkalow answered:
Does it have to be a foreclosure house or what about a regular home that is in your price range? What is your price range? Just in Laurel or any other locations you are looking at?
0 votes 19 answers Share Flag
Fri Mar 17, 2017
Dallas Texas answered:
To many questions require answers Best confer with your buyers agent AND mortgage broker AND listing agent what can or can not be completed for purchase price and etc.

Lynn911 Dallas Realtor & Consultant, Loan Officer, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors
972-699-9111
http://www.lynn911.com
... more
0 votes 7 answers Share Flag
Mon Apr 4, 2011
Phil Rotondo answered:
Good Afternoon Cindy;
Your agent should be able to provide you with a timeline of items that need to be taken care of prior to closing. If your agent is not assisting you, point this out to the agent and then call the broker if you're not being helped after that. ... more
0 votes 8 answers Share Flag
Tue Feb 8, 2011
davidwbrower answered:
What does your broker say? It is dependent upon the type of offer you accepted and the language in the offer. You are bound by the language of the accepted contract. There is no blanket rule or number of days to rescind an offer in GA. Ask your agent to interpret the contract for you and discuss the penalties that me be involved in breaking an accepted contract. ... more
0 votes 20 answers Share Flag
Wed Jan 18, 2017
Tony McMahon answered:
If you and the seller agreed in a contract of sale, there would be some merrit to your case, but you could always check with a Real Estate attorney for actual legal advice.
0 votes 72 answers Share Flag
Wed Mar 26, 2014
Bill Eckler answered:
HSBC and Scotibanc are two banks that are currently lending to foreign nationals.

It may be beneficial to consider obtaining a loan in Canada for your home purchase in the US prior to making your corporate move. With this arrangement you may purchase property as a cash buyer here and take advantage of the currancy exchange rate.

Best wishes,

Bill
... more
0 votes 8 answers Share Flag
Sun May 15, 2011
answered:
Hi Ryan,
Your first step would be to get Pre-Qualified for a mortgage. This will give you a better estimate of a potential monthly mortgage payment. From there, you can then start your home search with more confidence.

Rodney Mason
Sr Loan Officer / FHA 203K Renovation / HomePath Specialist
Prospect Mortgage
Atlanta, GA
(404) 591-2453
NMLS #151088
rodney.mason@prospectmtg.com
Apply Online at http://www.rodneymason.com
... more
0 votes 7 answers Share Flag
Tue Jul 26, 2016
Elizabeth Herbert answered:
Have you asked your Buyer Agent? I'd be happy to refer you but I don't want to step on your Agent's toes, so to speak. I currently have a client that is in the process of a 203K. ... more
0 votes 9 answers Share Flag
Tue Jan 25, 2011
Amanda Mitchell answered:
Hi Steve! I used Danny Fitzpatrick from Wells Fargo on the last 203k deal I had and he was great! here is all of his info!

DANNY FITZPATRICK
GOVERNMENT FHA & CONVENTIONAL RENOVATION FINANCING
Leaders Club
Wells Fargo Home Mortgage
E2918-020
700 Garden View Ct
Encinitas, CA 92024
(760) 929-5829 Tel
866-526-8084 Toll-free
866-240-0177 E-Fax
Danny.R.Fitzpatrick@wellsfargo.com
www.loans4remodeling.com
... more
0 votes 5 answers Share Flag
Tue Feb 15, 2011
answered:
There is no set answer to that question. GEnerally, you should not take on any new debt prior to qualify and subsequently closing on a home.

Rodney Mason
Sr Loan Officer / FHA 203K Renovation / HomePath Specialist
Prospect Mortgage
Atlanta, GA
(404) 591-2453
NMLS #151088
www.rodneymason.com
... more
0 votes 28 answers Share Flag
Mon May 7, 2012
Jane Shebroe answered:
Absolutely!
In fact you should shop a few mortgage brokers as well and request a Good Faith Estimate so you can compare rates, fees and terms.
A home is the biggest purchase of your life, so make sure you are choosing the best terms.

Best of Luck! =)
Jane
... more
0 votes 15 answers Share Flag
Sat Jan 28, 2012
Hugh Lorch answered:
I keep up on the Paradise Valley market on a daily basis including foreclosures.

Are there some specifics to your investment choices?

You are welcome to see more about me at www.AzLuxuryLiving.com

I hope I can help.

Hugh
... more
0 votes 16 answers Share Flag
Wed Jul 6, 2011
Tony McMahon answered:
Check with a local Lender to see if some type of construction loan might be available.
0 votes 7 answers Share Flag
Sat Jan 22, 2011
Sally Grenier answered:
Sounds like you might want to look into a 203K loan (it's an FHA "rehab" loan). The loan amount covers the amount to purchase the home plus additional money to make repairs. Ask several lenders in your area if they offer this type of loan. There are very specific processes and procedures. You have to hire FHA approved contractors and appraisors to monitor the repairs and make sure of the value being added to the property.

Otherwise, a standard FHA loan will probably not be approved. They want to make sure the place is livable before you buy it.
... more
0 votes 1 answer Share Flag
Tue Jan 25, 2011
Fred Glick answered:
M & T allegedly still does the Home Style but just for owners.

For investors, I have a "hard money" lender that does construction perms.

I would also approach a local small bank. You never know.

Good luck!

Fred Glick
215-852-4469
fred@usloans.com
... more
0 votes 8 answers Share Flag
Thu May 15, 2014
Douglas Katz answered:
I have a securities based loan, whereby, I can lend to foreign nationals by collateralizing marketable securities if that would help.
0 votes 5 answers Share Flag
Fri Jan 21, 2011
Sally Grenier answered:
You're probably talking about a 203K loan. I'm not in FL so I can't really help you. But I'd suggest calling different lenders in your area and ask if they do 203K loans. Not all companies do them. Good luck! ... more
0 votes 4 answers Share Flag
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