203k Presentation for Realtors

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Use this Presentation for your Realtor Partners to show the benefits of using a 203k loan to sell more short sales and foreclosures in need of repair

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  • Pg 104203(k) loans are also undergoing renewed interest. The 203(k) program insured 6,749 loans in 2008 and 16,904 loans during 2009. The volume continues to increase.
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  • 203k Presentation for Realtors

    1. 1. FHA 203k Renovation Loan
    2. 2. Repair
    3. 3. Remodel
    4. 4. Renovate
    5. 5. One Single Loan
    6. 6. Rehab Loan
    7. 7. Sally Realtor
    8. 8. Dated Kitchen
    9. 9. Remodel
    10. 10. Remodel Expenses
    11. 11. What if….
    12. 12. You Choose!
    13. 13. Guess What Happened???
    14. 14. Yes Siree!Three Offers!!Full Offers!House Sold!No Out of Pocket Money to Seller or Buyer! Wow!
    15. 15. 203k Creates OptionsBuyers Get What THEY WantNo Cost to SellersNO Guessing on Colors, Styles, etc.!!!Sells HOMES!
    16. 16. Lets TalkNumbersThe number ofloans that havebeen financed asStreamlined 203(k) loans havecontinued toincrease over thepast several years. 24
    17. 17. 203(k) Volume• 2008, the 203(k) program insured 6,749 loans, nearly double the previous year’s level.• 2009, 16,904 203(k) loans were insured, and the volume continues to increase. *Source: FHA. FY 09 as of September 30, 2009
    18. 18. 2010 Endorsements PROJECTIONS RATE OF FY 2011 FY 2011 FY 2010 CHANGE FY 2010 AS OF OCT 10 TO DATE TO DATE 2011/2010 FINALSection 203(k) 22,000 4,781 5,274 -9.3% 22,491 2011 21,297
    19. 19. What Does the FHA 203k Offer? More favorable loan terms Higher loan limits Flexible down payment options
    20. 20. Down PaymentOn the Total Loan Amount 3.5%
    21. 21. Conventional Loan Down Payment 20% 10%
    22. 22. 6% Seller ConcessionsOn the Purchase Price
    23. 23. 203kOwner Occupied Only30 Year Fixed Rate
    24. 24. Standard FHA Guidelines• Same Qualifications• Same AUS• Same Gift Funds• Just a 203k instead of a 203b
    25. 25. First Time Home Buyers 
    26. 26. Not Just for First Time Home Buyers
    27. 27. How Does a 203k Work?
    28. 28. Two Types – 203kStandard (k) Streamlined (k)
    29. 29. Standard (k) Streamlined (k)Purchase Price Purchase PriceClosing Costs Closing CostsCost of Repairs Cost of Repairs
    30. 30. RepairRemodelRenovate
    31. 31. Purchase Price Cost of Repairs
    32. 32. Loan Closes
    33. 33. Money Dispersed in Draws after Closing
    34. 34. Work complete
    35. 35. TeamSport!
    36. 36. Streamlined (k)Purchase Refinance UpgradeRemodel
    37. 37. $35,000Includes 203k Fees
    38. 38. Standard (k)$35
    39. 39.  Minimum $5,000 No Maximum Repair Amount Cannot Exceed 110% of the “as-improved” Value
    40. 40. 203k Consultant
    41. 41. Streamlined (k)Smaller ProjectsCosmetic ChangesNothing Structural
    42. 42. Streamlined Improvements New Appliances  Kitchen Remodel Flooring  Bathroom Remodel Windows  Fencing Doors  HVCC/AC Interior/Exterior Paint  Plumbing Roof Repairs  Electrical
    43. 43. The 203k Loan Rebuild Our Can Help Neighborhoods
    44. 44. How Can You Stand Out in Your Community? Become a Rehab Home Loan Expert!
    45. 45. Educate• Yourself• Your Partners• Your Clients• Your Community
    46. 46. Educate Yourself HUDhttp://www.hud.gov/offices/hsg/sfh/events/events.cfm Rehab Loan Networkhttp://www.rehabloannetwork.com Plaza Home Mortgagewww.plazahomemortgage.com
    47. 47. Focus on Making the World a Better Place• Build Teams• Work Together• Work in Your Community• Be a Part of Your Community• Create Opportunities• Create Jobs
    48. 48. Educate Your Partners• Flyers• Webinars• Live Classes with – Realtors – Financial Planners – Insurance Agents
    49. 49. Educate Your Community• Radio Shows• Newspaper Articles• Chamber Events
    50. 50. Create Your Team!
    51. 51. Become an Expert
    52. 52. Rehab Loan Network• Become a Certified Specialist• Build YOUR Network• Add Your Local Connections – Contractors – Realtors Be the EXPERT in Your Area! Limited Areas! Complete Information Sheet today to be Considered.
    53. 53. Become THE Expert Help Sell Homes Build Your Team Stimulate the EconomyBecome the Solution BE THE LEADER!

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