When You Find The "Almost" Perfect House, But Want To Make It Home.

This should lead it off quite nicely:)

Back in my early days of lending, I recall quite vividly the very first Rehab Loan I did. While I did some legwork in actually knowing the ropes of that particular product before advertising the bejesus out of a very niche loan, I still was caught like a reindeer in some oncoming car's speeding headlights when trying to get them closed in a streamlined sort of fashion. And then, I had it mastered. As my particular luck would have it, most of those programs disappeared shortly thereafter.

The echoes in the back of my head rang of a long-lost product I had only heard about and most of what I heard were borderline horror stories. The FHA 203(K) loan reared its mysterious head and stared me in my wide-eyed glance. I gotta admit, there was major hesitation on my part in even wanting to get involved in such a misunderstood product. I knew little about it and wanted to concentrate more on the Conventional sort of stuff that I grew up with in the industry... at least at that point. Hey, of course I want to corner the market, but not at the risk of looking like an incompetent SOB at the end of the day.

Then, I encountered experts in that very product. I figured, let's roll repair.

After doing more homework than my combined High School & College Education would vouch that I did back in the day, I chose to go after a market that just may make a dent in not only enhancing the housing market... but the very neighborhoods we live in.

This is just a taste of the FHA 203(K) Renovation Loan!

• Add a deck or porch, makes for one heck of a Summertime BBQ.
• Upgrade the electrical system and avoid reading overdue utility bills under candlelight.
• Modernize the kitchen and watch the The Food Channel in a comparable stadium.
• Replace a furnace and heck, it's a furnace. You really don't want that entity breaking down anytime soon!
• Paint the exterior and/or interior. Yours could be the only lavender house in the neighborhood:)
• Install new carpeting. There's nothing like getting rid of stained residue from a German Shepard you never owned.
• Remodel a bathroom. Hey, might as well let loose of your naked body in comfortable surroundings!
• Replace roofing and/or siding. There were 58 mile per hour winds in Pennsylvania today, that stuff may come in handy.
• Refinish wood floors. That's a big selling point for yours truly. I adore wood floors and have an aggressive amount of ShamWow merchandise to prove it:)

Program Features:

• Low down payment
• Buy and remodel a home with one mortgage! You can finance the purchase plus the cost of the improvements with one monthly mortgage payment.
• At least $5,000 in repairs needed to qualify for the 203(K) Loan.
• They can be used for owner occupied 1-4 unit family dwellings.
• Closing takes place before the improvements/repairs are made.
• Money for the repairs and renovations is held in an escrow account and paid out after each phase of work is completed, inspected and approved.
• By the way, they are fixed rates!

Consider this the teaser post to the taste buds of home renovation lending. Yup, I'm your proverbial appetizer.

Jason Sardi

Mortgage Consultant

1-866-262-8720 ext. 229

jsardi@ihmci.com

Located at our Allentown, Pennsylvania office. Pennsylvania Based Mortgage Banker/Broker whose area of service include PA, NJ, NY, CT, DE, MD, VA, SC, FL, MI and IN.