‘Rehab’ Loans to the Rescue
In the end it was another loan that came to the Mercados’ rescue: the Federal Housing Administration’s 203(k), also known as the F.H.A. rehab loan, which is designed to cover not only buying the home but also renovating it, and is then paid back like a regular mortgage. A hybrid that has been around for more than 30 years, the loan program has recently surged in popularity.
Successfully Selling a Rehab
The challenges sales agents face continue to plague the market. With the high number of foreclosures on the rise many sales agencies are realizing the benefits of FHA 203K Rehab loan. But how do you sell it? What sets this loan program apart from a standard sale?
There are pros and cons to every market condition. We’ve compared the
A Perspective on the Standard Sale vs the 203K Rehab Sale
I see firsthand the potential savings that lie just below the surface of the FHA 203K Loan program. The value appreciation and subsequent positive karma derived from wise investing creates joy in those who benefit, and the money isn’t bad either. As a 203K consultant I’m constantly
3 Repair Types of the FHA 203(k) Rehab
Repairs listed as recommended are those suggested by professionals who have either inspected your project by choice [usually a Professional Home Inspector] or as a result of a recommendation by your 203(k) Consultant or Professional Home Inspector. A few examples are:
TweetChat Every Thursday @ 11:00 a.m. Eastern
What’s the best way to use the 203K as a sales tool? How can you provide excellent service to your Rehab clients? What are HUD’s upcoming program changes and how can you stay abreast of those changes? Each week we open these and other lending and selling questions for conversation on Twitter.com.