Odessa, FL

PURCHASE AND REHAB YOUR HOME IN OLDSMAR FLORIDA WITH THE FHA 203(K) LOAN - Most home buyers are turned off at the sight or even thought of buying a fixer-upper; a foreclosure or an older home today. However, educated and informed home buyers are utilizing the FHA 203(k) loan to buy their new home and fix it up with no additional out-of-pocket expense.

The FHA 203(k) loan is a tool that savvy home buyers, successful contractors, Realtors and mortgage originators have been using since 1978. An FHA 203(k) loan is very similar to the traditional FHA loan. The only real difference is that with the FHA 203(k) loan, the home buyer is adding money to their mortgage balance to finance-in any repair/improvement cost.

Whereas the traditional FHA loan requires that certain repairs be done before the home is purchased, theFHA 203(k) loan allows the home buyer to purchase their home and complete the repairs after the transaction closes.

The other traditional FHA qualifications (appraisal guidelines,seasoning rules,credit qualifications, etc...) still apply. But with the FHA 203(K) loan, a home buyer can fix up his home and not have to worry about the additional out-of-pocket expenses for the repairs/improvements. What a brilliant way to purchase a fixer-upper!

HERE ARE THE REASONS SMART HOME BUYERS ARE CHOOSING TO GO WITH THE FHA 203(K) LOAN

1. Better opportunities for a great financial deal on a home purchase

2. Allows buyers who are approved for an FHA loan to buy properties that would not otherwise qualify

3. Allows buyer to put personal touches into the interior/exterior making it feel like more of a home

4. Sellers do not have to pay for repairs prior to listing the property if they do not care to

5. There is less competition to buy fixer-uppers which forces sellers to accept lower offers

6. FHA loans are assumable; so when buyers go to sell house it will be easy to market.

Come see some one of a kind lake front estates on Lake Alice in Odessa. Lake Alice is a 91 acre lake with many gorgeous homes surrounding it. The community is also close to the Silver Dollar Golf Club. This is a beautiful area with large trees and many large lakes. To view homes for sale in the Pinellas and Hillsborough area by searching the Tampa Bay MLS just click on: Tampa Homes and then fill in the information on your dream home or just call 813-245-0316.

The contents of this posting are the property of Pam Joffe and Solaris Realty of TampaBay. Pam Joffe is a broker working in the Pinellas and Hillsborough area helping buyers and sellers buy and sell homes. Contact Pam at 813-245-0316 to list your property for sale or to purchase a property in Hillsborough, Pinellas or Pasco County area. Information is provided in this blog with the intent to educate homeowners and buyers about Tampa, St. Petersburg, Clearwater, Brandon, Wesley Chapel, Lutz, Valrico, Odessa and other communities in the Tampa area. For more information on different communities and subdivisions go to my website by clicking on Tampa Homes. You can also call 813-245-0316.

True country living with city amenities close by Crippenwood of Odessa It is an extremely desirable place to live. Most of the homes were built in the 1980's and are on larger lots. This beautiful area is just a short distance to the Veteran's Expressway and from there a quick drive to Westshore Business district, Tampa International Airport or Downtown Tampa. Excellent schools, shopping and the Veteran's Expressway accessare also nearby.

To look for homes for sale or rent on MLX in this subdivision and others in Tampa Bay and Pinellas area go to my website by clicking on Tampa Homes.

The contents of this posting are the property of Pam Joffe and Solaris Realty of TampaBay. Pam Joffe is a broker working in the Pinellas and Hillsborough area helping buyers and sellers buy and sell homes. Contact Pam at 813-245-0316 to list your property for sale or to purchase a property in Hillsborough, Pinellas or Pasco County area. Information is provided in this blog with the intent to educate homeowners and buyers about Tampa, St. Petersburg, Clearwater, Brandon, Wesley Chapel, Lutz, Valrico, Odessa and other communities in the Tampa area. For more information on different communities and subdivisions go to my website by clicking on Tampa Homes. You can also call 813-245-0316.

FHA Loans Now Available With Credit Scores As Low As 500

GREAT NEWS! In an effort to help increase home ownership opportunities to those currently underserved, we are introducing a new program. Our FHA AFFORDABLE PROGRAM was designed to help credit worthy borrowers who have been unable to obtain financing due to their credit scores.

Under this program, eligible borrowers can obtain affordable mortgage financing with scores AS LOW AS 500.

Some of the necessary common sense requirements are:

1) Debt to Income Ratio's must be LOW (31/43 MAX) making the payments AFFORDABLE!!!

2) Borrowers must show a propensity to save money and/or pay down debt

3) Borrowers must have a solid 2 year work history with 6 Months minimum on current job

Exceptions to this rule can be made on recent college graduates with a job that is related to their degree

4) Borrowers must have their own down payments of 3.5% ( NO GIFTS ALLOWED)

5) NO INCREASE in current Rent/Mortgage payments

6) Owner occupant borrowers only

For more information on this dynamic new loan program call or email me today