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FHA Streamline 203K   PROGRAM TRAINING Offered through  Affinity Lending Group Affinity Lending Group Desktop Underwriter is a registered trademark of Fannie Mae.  Loan Prospector is a registered trademark of Freddie Mac.  This presentation is a summary and is not complete.  Contact your ALG AE  for complete program guidelines.  This information is for mortgage professionals only and should not be distributed to or used by consumers or other third-parties.  Information is accurate as of the date shown below and is subject to change without notice.  07/24 /2008
[object Object],[object Object],Introduction 06/06/09 Affinity Lending Group has been around since 2003.  Since then, ALG has been opening doors to the American Dream.  It’s all we do and we do it well.  Discover today why Affinity Lending Group is your First Time Home Buyer and Down Payment Assistance Headquarters! Affinity Lending Group
History of Affinity Lending Group ,[object Object],[object Object],[object Object],[object Object]
General Comments ,[object Object],[object Object],[object Object],[object Object],[object Object]
Uses of Streamlined (k) ,[object Object],[object Object],[object Object]
Eligible Properties ,[object Object],[object Object],[object Object],[object Object],[object Object]
Eligible Improvements ,[object Object],[object Object],[object Object]
Improvements such as;  ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Improvements Continued ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Energy Improvements ,[object Object],[object Object],[object Object],[object Object]
Ineligible Improvements ,[object Object],[object Object],[object Object],[object Object],[object Object]
Contractor ,[object Object],[object Object],[object Object],[object Object]
Underwriting the  203(k)  Loan ,[object Object]
Appraisal Issues ,[object Object],[object Object]
What May be Included  in Rehab Costs ,[object Object],[object Object],[object Object],[object Object],[object Object]
Who Can Get a 203(k) ,[object Object],[object Object]
Standards for Work ,[object Object],[object Object]
Allowable Lender Fee’s ,[object Object],[object Object]
Rehab Period ,[object Object],[object Object]
Draws ,[object Object],[object Object],[object Object]
Eligible REO Properties ,[object Object],[object Object],[object Object],[object Object],[object Object]
Lead-based Paint  Stabilization ,[object Object],[object Object],[object Object],[object Object],[object Object]
HUD’s Credit for  Stabilization ,[object Object],[object Object],[object Object]
Sales Incentives ,[object Object],[object Object],[object Object]
[object Object],[object Object],06/06/09 Affinity Lending Group

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Streamline 203k

  • 1. FHA Streamline 203K PROGRAM TRAINING Offered through Affinity Lending Group Affinity Lending Group Desktop Underwriter is a registered trademark of Fannie Mae. Loan Prospector is a registered trademark of Freddie Mac. This presentation is a summary and is not complete. Contact your ALG AE for complete program guidelines. This information is for mortgage professionals only and should not be distributed to or used by consumers or other third-parties. Information is accurate as of the date shown below and is subject to change without notice. 07/24 /2008
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