Preservation resource center
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FHA 203K Renovation Mortgage!
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FHA 203K Renovation Mortgage!
Fully Serviced Non-Depository Mortgage Bank that originates over 4 Billion Yearly in Volume
Headquartered out of Houston, TX
Established 1988
Originate Jumbo, VA, FHA, FHA203k Renovation, Conventional, Conventional Renovation, Energy Efficient and Weatherization Mortgages
ME = Family ManBo Smith or WALTER “BO” SMITH NMLS
92100
DEFINITION OF FHA203KFHA203K is the Code Name for the Renovation Side of the FHA Program established in 1978.
It allows one to purchase/refinance a home and make IMPROVEMENTS to a single, duplex, triplex, and fourplex home all under one closed loan.
These improvements can be as little as Cosmetic in nature or major improvements such as shoring up a home or additions!
Downpayment is 3.5% Required on Acquisition + Rehab
Terms or 15-30 year mortgages available
Close time normally takes 45-50 days from date of contract.
Most all estimates for Renovation on home begin after contract
Houston We Have A Problem!
Which Way Do I Go?
Where Can I Learn?
Who are the Players?But not all are on the same team!
Before!Barn Style House!
AFTER!
Before and After!
Mayor Reeves
House I want! ..Before!
Wanted to be next door to this!
After!
After!
After!
Hattiesburg, MS!
Crystal Springs, MSCirca 1870’s under construction!
THANK YOU!
