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

7. FHA 203k Renovation Loan

8. Repair

9. Remodel

10. Renovate

11. One Single Loan

12. Rehab Loan

14. Sally Realtor

15. Dated Kitchen

16. Remodel

17. Remodel Expenses

18. What if….

19. You Choose!

20. Guess What Happened???

21. Yes Siree!
Three Offers!!
Full Offers!
House Sold!
No Out of Pocket Money to Seller or Buyer!
Wow!

22. 203k Creates Options
Buyers Get What THEY Want
No Cost to Sellers
NO Guessing on Colors, Styles, etc.!!!
Sells HOMES!

24. Lets Talk
Numbers
The number of
loans that have
been financed as
Streamlined 203
(k) loans have
continued to
increase over the
past several years.
24

25. 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

26. 2010 Endorsements
PROJECTIONS RATE OF
FY 2011 FY 2011 FY 2010 CHANGE FY 2010
AS OF OCT 10 TO DATE TO DATE 2011/2010 FINAL
Section 203(k) 22,000 4,781 5,274 -9.3% 22,491
2011
21,297

27. What Does the FHA 203k Offer?
More favorable loan terms
Higher loan limits
Flexible down payment options

28. Down Payment
On the Total Loan Amount
3.5%

29. Conventional Loan Down Payment
20%
10%

30. 6% Seller Concessions
On the Purchase Price

31. 203k
Owner Occupied Only
30 Year Fixed Rate

32. Standard FHA Guidelines
• Same Qualifications
• Same AUS
• Same Gift Funds
• Just a 203k instead of a 203b

33. First Time Home Buyers


34. Not Just for First Time Home Buyers

35. How Does a 203k Work?

37. Two Types – 203k
Standard (k) Streamlined (k)

38. Standard (k) Streamlined (k)
Purchase Price Purchase Price
Closing Costs Closing Costs
Cost of Repairs Cost of Repairs

39. Repair
Remodel
Renovate

40. Purchase Price Cost of Repairs

41. Loan Closes

42. Money Dispersed in Draws
after Closing

46. Work complete

48. Team
Sport!

49. Streamlined (k)
Purchase Refinance
Upgrade
Remodel

50. $35,000
Includes 203k Fees

51. Standard (k)
$35

53.  Minimum $5,000
 No Maximum Repair Amount
 Cannot Exceed 110% of the
“as-improved” Value

54. 203k Consultant

55. Streamlined (k)
Smaller Projects
Cosmetic Changes
Nothing Structural

56. Streamlined Improvements
 New Appliances  Kitchen Remodel
 Flooring  Bathroom Remodel
 Windows  Fencing
 Doors  HVCC/AC
 Interior/Exterior Paint  Plumbing
 Roof Repairs  Electrical

57. The 203k Loan Rebuild Our
Can Help
Neighborhoods

59. How Can You Stand Out in Your Community?
Become a
Rehab Home Loan Expert!

60. Educate
• Yourself
• Your Partners
• Your Clients
• Your Community

61. Educate Yourself
 HUD
http://www.hud.gov/offices/hsg/sfh/events/events.cfm
 Rehab Loan Network
http://www.rehabloannetwork.com
 Plaza Home Mortgage
www.plazahomemortgage.com

62. 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

63. Educate Your Partners
• Flyers
• Webinars
• Live Classes with
– Realtors
– Financial Planners
– Insurance Agents

64. Educate Your Community
• Radio Shows
• Newspaper Articles
• Chamber Events

65. Create Your Team!

66. Become an Expert

67. 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.

69. Become THE Expert
Help Sell Homes Build Your Team
Stimulate the Economy
Become the Solution
BE THE LEADER!