Do you have buyers in need of funds for repairs?
FHA’s Streamline 203(k) Mortgage
Download TriFold Brochure
3% DOWN FOR ACQUISITION (GIFT FUNDS ALLOWABLE)
Eligible Renovations Include:
Repair/Replacement roofs, gutters, and downspouts
Repair/Replacement/Upgrade of existing HV AC systems
Repair/Replacement/Upgrade of plumbing and electrical systems
Repair/Replacement of existing flooring
Minor remodeling such as kitchens, which does not involve structural repairs
Exterior and interior painting
Weatherization: including storm windows and doors, insulation, weather stripping, etc.
Appliances – Purchase and installation are included. Appliances may include free-standing ranges, refrigerators, washers/dryers, dishwashers, and microwaves
Lead-based paint stabilization or abatement of lead-based paint hazards
Repair/Replace/Add exterior decks, patios, porches
Basement finishing and remodeling, which does not involve structural repairs
Basement waterproofing
Window and door replacements and exterior wall re-siding
Septic system and/or well repair or replacement
Improvements for accessibility for persons with disabilities
Also consider Visiting www.Ohio203K.com or www.NorthernOhioRealtor.com to find a local Realtor to assist you in finding a home in Northern Ohio.
I am a loan officer in Michigan. I thought the 203K would be a great idea to offer, but so far, no one is jumping at it. They all like to hear about it, but no takers. Are you having any luck with it?
Tim - like Terry, I haven't been able to get any takers among my current, pre-approved buyers either. However, I now include the 203(k) loan in my presentation when I sit down with new prospects/clients as an option along with FHA/CalHFA/Conventional. I'm also going to start including it in my seminars for first time buyers. Having said that though, I was wondering if you mind if I used your brochure (with my name and company info, of course) for my seminars.
I don't know what the repo's in your area look like but some of the ones around here (SoCA) are absolute dumps. For some people, the 203(k) is the best way to go.
Thanks for the comment Donne.