FHA "RE HAB" Loans
Available up to $100,000
Buy the "worst" home in the "best" neighborhood
Purchase or Refinance
Low Fixed Rates starting at 5%
NO Pre-Pay Penalties
Low Credit Scores (580) "OK"
Use the money for virtually any use
Carpet,drapes,appliances,room additions etc.
Receive half of the money at the "close of escrow"
and the other half when the repairs are completed
Hire a contractor or do the work yourself!!
Just follow the easy six step process
1) Buyer locates property.
2) Buyer creates a list of improvements and schedules an inspection with a cost FHA approved "cost consultant".
3) Cost Consultant and Buyer prepares contractor bid package to obtain cost estimates.
4) Appraiser visits properties to determine "as is" value and the "improved future value". (The loan amount is based on the "improved" value)
5) Loan funds...escrow closes and funds are disbursed.
6) Construction must begin within 30 days and finish within 180 days.
For more info:
Daniel Dobbs
Investors Mortgage
949 250-3981
