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Don’t Be Scared of Foreclosures or Homes in Need of Renovation!
By Leesa Sandoval
Current market conditions dictate that lenders are able to offer versatile lending programs to their customers. Specifically being able to offer renovation lending options is key. Almost 70% of America’s homes build before 1992 and the vast inventory of foreclosed properties are uninhabitable. This alone means that consumers will need options to be able to move into these homes. Coupled with that you, as the Realtor, need inventive ways to market, list and ultimately sell these homes.
Read MoreHUD Homes: How To Purchase and Renovate With Only $100 Down
By Leesa Sandoval
Ever heard of the HUD 100 program? I’m amazed that so many people are surprised when they hear they can purchase and renovate a home with a down payment of only $100.00!! Housing and Urban Development (HUD) has a great program, that actually has been around for quite some time, called the HUD 100 program. Basically, if the home you want to purchase qualifies than you can purchase the home and your down payment is reduced to simply $100.00.
Read MoreWhat to do When a Home Has Foundation Trouble
By Leesa Sandoval
Finding out that a home has foundation issues is not an uncommon occurrence. This is especially true of Texas because of the highly expansive clay soils. The main cause of foundation is too much moisture or not enough.
Read MoreTransforming Foreclosures with 203k Loans
By Leesa Sandoval
And they say that FHA 203k rehab loans don’t close. Well here (video) is another FHA 203k that closed on time. It went from contract to closing in 45 days. This house needed $83,000 worth of repairs including new windows, new flooring, complete bathroom renovation, new fence, etc. Without the program, this house would have
Read MoreBenefits Of Doing A 203K Rehab Loan
By Leesa Sandoval
Through the years, the FHA loan program has helped potential buyers achieve their goal of home ownership with reasonable mortgage rates, low down payment and relaxed credit requirements.
The FHA 203k Rehab loan follows all of these guidelines but not only allows for the purchase of a home it allows for the rehab and/or customization of the new home.
Read More3 Reasons a Texas 203k Loan Is Awesome
By Leesa Sandoval
An FHA 203k loan is an awesome program if you are planning to purchase a Texas foreclosure that needs a little rehab work. Even though there are some great deals on Texas foreclosures, most of my clients are hesitant to explore that option due to the amount of repairs and initial investment involved with purchasing
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