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What Can I Use a 203k Loan For?
By Leesa Sandoval
Whether you’re a homeowner or a homebuyer, you may have a list of major renovations you’d like to get started on. Even minor repairs such as a new paint job or bathroom plumbing issues may leave you wishing for a change. If you’re unsure how to fund those changes, the solution may be an FHA 203(k) loan!
Read MoreNew Update Available: Updating Your own Home – Fannie Mae HomeStyle
By Leesa Sandoval
You wake up in the morning and check your phone to be awakened with the second most popular notification: “New update available.” (The first most popular being: “Your storage is almost full,” which pops up way more often than we would like.) Consequently, in order to make these devices perform their best, it is important that
Read MoreNo Need to be Married to Buy Your First House, You Need a 203k Limited Renovation Loan
By Leesa Sandoval
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What’s Great About the FHA 203k Renovation loan?
By Leesa Sandoval
What’s great about the FHA 203k Renovation loan? Well I could talk for hours about it but why not hear from a recent client of ours that closed on an FHA 203k Renovation loan as a refinance. Let me set the scene for you…We got their call one afternoon after their current contractor walked off
Read MoreQualifying for a 203k Loan in Texas
By Leesa Sandoval
When looking for a 203k in Texas the first thing to do as with any loan is to get pre approved. So you are probably asking yourself what is the process for qualifying for a 203k loan in Texas? Well let me break it down for you. It really isn’t much more difficult than qualifying for a traditional FHA loan. It is important for you to know that each lender can have specific requirements and typically they do vary from lender to lender.
Read MoreTrue or False: The FHA 203k Renovation Loan in Texas is Just for HUD Foreclosures
By Leesa Sandoval
The FHA 203k Renovation loan along with its conventional counterpart, the Fannie Mae HomeStyle Renovation loan, can be used for any type of property. Furthermore either can be used for a purchase or a refinance. I think far too often these loans are associated with HUD or bank foreclosures since those homes tend to be the most distressed but that’s not always the case. This is especially true in today’s market due to the speed at which the inventory is going under contract.
Read MoreThe FHA 203k Streamline Loan Made Easy in Texas
By Leesa Sandoval
The FHA 203ks or the FHA 203k Streamline loan is the answer for those wishing to purchase and renovate a home in Texas. Let’s talk for a moment about a home that has a great structure but just needs some light renovation. Why walk away from it when you can simply finance the cost of the new paint job or the new granite counters…just to name a few examples. Simply put the FHA 203k streamline loan eliminates much of the hassles needed to obtain its counterpart – the FHA 203k full loan.
Read MoreRediscovering the Fannie Mae HomeStyle Renovation Loan
By Leesa Sandoval
The Fannie Mae HomeStyle Renovation loan has gotten very little press lately in Texas. I’m not quite sure why since it’s a conventional loan that allows you to purchase or renovation a home with only 5% down. Let’s say you are refinancing and need money for repairs. This loan is your key! It’s the perfect hidden treasure for those needing a mortgage loan with a low down payment and the ability to finance repairs/upgrades.
Read MoreHow to Have A Successful FHA 203k Renovation Loan Closing
By Leesa Sandoval
I’ve heard so much chatter lately regarding FHA 203k renovation loans that I thought it was time I dispelled some of those rumors floating around. Especially those pertaining to whether or not these loans actually do close!
Read More203k Renovation Mortgage Loans Made Easy – Customer Testimonial
By Leesa Sandoval
There has been a lot of press about 203k renovation mortgage loans lately. I’ve also heard from the mouth of realtors as well as customers how hard they think they are and how they fear that a 203k rehab loan won’t close. Well I’m here to tell you that’s not true. Don’t take it from me, take it from these customers of mine that recently closed.
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