Did you find a home you want but it needs work??
Well, you are in luck. The FHA 203k is back. What is that? Simple.
A 203 k is a Hud/Fha guaranteed loan that helps provide funds for the purchase and rehab of a home.
The requirements are few. You will need a 3.5% down payment and be in compliance with the standard FHA guidelines and loan limit of $346,250 in Cherokee county. You can get a 15 or 30 year mortgage. You can get a streamline version with less documentation for loans up to $35,000.
FHA loans are available to those with marginal credit, are easier to quality for, and can be processed with a down payment that is gifted. These loans are assumable, and have no prepayment penalites.
For more info you can go to: the HUD site www.hud.gov or bit.ly/PMSUt and at www.RE-buildUSA.com
How's that for fixing you up!!!
About Me
- Pat Sells Houses
- Pat Barnett earned a Bachelor´s degree in Elementary Education from Appalachian University. She is a Real Estate Broker and member of the Atlanta Board of REALTORS®, the North Georgia Association of REALTORS® and the National Association of REALTORS®. Pat is one of the few REALTORS® in the Nation to hold the professional designation "GRI" (Graduate REALTOR Institute) and is a designee for the prestigious designation of "CRS" (Certified Residential Specialist). The CRS designation is awarded only to residential real estate associates who complete strict educational requirements combined with experience and sales results. She has 25 years in the business and has earned her Phoenix award for 10 years in the Million Dollar Club She is currently a member of the ABWA (American Business Women Association, the Mexican American Chamber, NAHEP National Association of Hispanics Real Estate Professionals,and REO (Real Estate Owned Networks. She is a registered agent for selling HUD homes