What is Happening in the Mortgage Market

Real estate agents and home buyers are scrambling to adjust to today's real estate market which is filled with foreclosed homes that have suffered form disrepair and neglect.  Many banks that own these foreclosed properties are unwilling to repair them.  As a result, many foreclosed properties do not qualify for traditional loan programs.  FHA's 203(k) loan programs provides the funds necessary for both the purchase AND the renovation of a home.  The maximum loan amount depends on HUD-determined loan limits which are set on a country by county basis. 

FHA 203(K) For Purchases or Refinances 

Loan Program Advantages:

  • Streamline Program, Unlimited Repairs Up to $35,000
  • Low Down Payment of 3.5%
  • Credit Scores as Low 620
  • Competitive Fixed Rate Terms
  • 1-4 Owner Occupied Homes
  • SFR, Condos and Townhomes Allowed

Call us for detail on this loan program.

Richard Woodward

Banker / Senior Branch Manager

Because You Deserve The Best

Mortgage Pros is Now Envoy Mortgage

Office: (972) 661-5136 Fax: (972) 314-9647

17311 Dallas Parkway Suite 173 Dallas, TX 75248

Visit Us Online - www.Envoy-Mtg.com

Posted by Richard Woodward on August 12th, 2009 3:22 PMPost a Comment (0)

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