How did They Get over $100,000 in Equity by using FHA's 203K loan?

Fha 203k Financing has been around for over 3 decades. It allows for both purchase and renovation to be financed all within one Loan. It's timely resurgence is beggining to build momentum. Think of it as the "Perfect Godzilla of all Storms"

What Buyers want is Value. They ALL WANT to purchase a home with:

• A Comfortable Mortgage Payment
• equity already built in (buying below market)
• A home that they can be proud of (features that appeal to them, ie... a large kitchen for instance)

FHA 203K loan the "Godzilla of Storms?" Especially in Maryland. In what kind of Market would a low down payment renovation loan be tantamount in? hmmm... let's see.....

• foreclosures are on the rise (many homes left uncared for and vandalized)
• low inventory of "move in condition" are creating competition (multiple contracts), leaving the other inventory sitting on the market and growing in numbers on a daily basis. Supply and Demand leveraging towards buyers that use the "K" loan to purchase homes at bargain prices
• many homes that are in "move in condition" need THOUSANDS of dollars for updates or near future repairs or replacements (such as roof, airconditioning system, furnice)

More Reason why home buyers are using the 203k loan today......

• Sick and tired of loosing out on their offers
• they finally found a loan officer that knows how to do this loan
• homes in the area that they prefer needs this financing

Enjoy the presentations below. It'll walk you through the program giving you an idea of how it works.