This document provides information about different types of mortgage loans. It discusses conventional home mortgage loans, FHA-insured loans which provide lower down payment options, VA loans that offer home financing for veterans without a down payment, and FHA 203(k) loans that combine home purchase with funding for repairs. Each loan has different eligibility requirements but can help buyers find the right financing to purchase a home.
YOUR OPPORTUNITY
Where do you want to be in 5 years? 10 years? What about right now?
What if you could have the benefits of a traditional business career, but without someone else controlling your income, hours, partners and overall job security? Maybe you’re comfortable in your job, but would like to increase your opportunities and income without trying to balance the multiple schedules created for you. Technology is continuing to advance and the business world is rapidly changing. You’re going to be working anyway- shouldn’t you enjoy it? Shouldn’t you control it? Welcome to Financial Education Services.
At FES, we’ve combined the flexibility of working for yourself with the stability and management of a business which has already been established and achieved success. You don’t need to invest a bunch of money, store inventory or learn the technology behind our advanced financial programs; you just need the motivation and work ethic to create a strong, dependable team and continue to develop yourself as a leader within your organization. Your opportunities are limitless. The harder you work the more you’ll gain.
You’ll also have security in knowing the innovative products and services you are distributing are of the utmost quality and yet are continuously improving. The demand for our services is growing each and everyday, fitting the needs of various people throughout your community, at all stages of life. Make a difference, change your life- know that the hard work you’re putting into today is building and benefiting your financial opportunities for the future.
www.myfes.net/BRobinson1
Skyrocket Your Credit Score & Credit Limits (Quick Guide to Credit & Unsecure...Golden Financial Services
"Credit" and "Unsecured Debt", can IMPROVE or DESTROY your financial FUTURE. Your first step to solidifying perfect financial health is to understand unsecured debt and credit – and then we will show you the proven tricks to raise your credit limits and credit scores. This is a simplified thesaurus on Credit and Unsecured Debt. A guaranteed life-changer! If you use this guide please credit its creator: Golden Financial Services, at https://goldenfs.org. You will find the original guide to unsecured debt published at https://nomorecreditcards.com/unsecured-debt/.
YOUR OPPORTUNITY
Where do you want to be in 5 years? 10 years? What about right now?
What if you could have the benefits of a traditional business career, but without someone else controlling your income, hours, partners and overall job security? Maybe you’re comfortable in your job, but would like to increase your opportunities and income without trying to balance the multiple schedules created for you. Technology is continuing to advance and the business world is rapidly changing. You’re going to be working anyway- shouldn’t you enjoy it? Shouldn’t you control it? Welcome to Financial Education Services.
At FES, we’ve combined the flexibility of working for yourself with the stability and management of a business which has already been established and achieved success. You don’t need to invest a bunch of money, store inventory or learn the technology behind our advanced financial programs; you just need the motivation and work ethic to create a strong, dependable team and continue to develop yourself as a leader within your organization. Your opportunities are limitless. The harder you work the more you’ll gain.
You’ll also have security in knowing the innovative products and services you are distributing are of the utmost quality and yet are continuously improving. The demand for our services is growing each and everyday, fitting the needs of various people throughout your community, at all stages of life. Make a difference, change your life- know that the hard work you’re putting into today is building and benefiting your financial opportunities for the future.
www.myfes.net/BRobinson1
Skyrocket Your Credit Score & Credit Limits (Quick Guide to Credit & Unsecure...Golden Financial Services
"Credit" and "Unsecured Debt", can IMPROVE or DESTROY your financial FUTURE. Your first step to solidifying perfect financial health is to understand unsecured debt and credit – and then we will show you the proven tricks to raise your credit limits and credit scores. This is a simplified thesaurus on Credit and Unsecured Debt. A guaranteed life-changer! If you use this guide please credit its creator: Golden Financial Services, at https://goldenfs.org. You will find the original guide to unsecured debt published at https://nomorecreditcards.com/unsecured-debt/.
Subprime Meltdown: From U.S. Liquidity Crisis to Global Recessioncharlesbrownell
How the housing market spilled over into the credit market and that spilled over into the stock market and that spilled over into your local supermarket.
Tampa FL as a reverse mortgage consultant. Chris Beard works exclusively with senior homeowners seeking a reverse mortgage, a home financing program that allows mature homeowners to utilize the equity in their homes to supplement retirement income.
Subprime Meltdown: From U.S. Liquidity Crisis to Global Recessioncharlesbrownell
How the housing market spilled over into the credit market and that spilled over into the stock market and that spilled over into your local supermarket.
Tampa FL as a reverse mortgage consultant. Chris Beard works exclusively with senior homeowners seeking a reverse mortgage, a home financing program that allows mature homeowners to utilize the equity in their homes to supplement retirement income.
ASI Technologies was founded in the year 2012, as a prominent manufacturer, supplier and trader of a comprehensive range of Automation, Integration Systems & Solution. With the objective of providing our customers optimal solutions, we have brought forward Control and Power Panels, PLC Systems and VIPA PLCs. These systems are manufactured using qualitative components, as per the industry laid parameters. As we regulate and conduct our fabrication procedure stringently in order to maintain & achieve flawless configuration of these products, we ensure our customers flawless usage of these panels & systems. In addition, we render automation and after sales services, using advanced methodology with the help of trained technocrats.
"Welcome to your path to homeownership with our mortgage loan solutions. Owning a home is a dream for many, and we're here to make it a reality for you. Our mortgage loans offer a secure and affordable way to purchase your dream property or refinance your existing home. With competitive interest rates, flexible repayment options, and personalized guidance, we're committed to helping you find the perfect loan to fit your unique needs. Our experienced team of experts will walk you through the entire process, from application to closing, making your journey to homeownership as smooth as possible. Take the first step towards building equity and creating a place to call your own with our trusted mortgage loan services."
"Welcome to your path to homeownership with our mortgage loan solutions. Owning a home is a dream for many, and we're here to make it a reality for you. Our mortgage loans offer a secure and affordable way to purchase your dream property or refinance your existing home. With competitive interest rates, flexible repayment options, and personalized guidance, we're committed to helping you find the perfect loan to fit your unique needs. Our experienced team of experts will walk you through the entire process, from application to closing, making your journey to homeownership as smooth as possible. Take the first step towards building equity and creating a place to call your own with our trusted mortgage loan services."
Everything you need to know about purchasing a home, whether you are a first time home buyer or a repeat buyer - this is a great place to start. Then contact me at lisat@mortgagebrokersottawa.com to get started on your preapproved mortgage...
Louisiana Small Business Loans – Get Approved For Small Business Financing dhamza
Are you looking for a loan for your commercial vehicle? If yes, then you should consider applying for commercial vehicle financing. The process of obtaining business loans for vehicles is quite simple. However, there are certain factors that you need to keep in mind while applying for a commercial vehicle loan.
If you are planning to buy a new commercial vehicle, then you should apply for commercial vehicle financing before buying the vehicle. It is because the finance company will give you a better rate of interest if you apply for a commercial vehicle loan before purchasing the vehicle.
It is important for consumers to stay informed as details of the settlement become known. Because of the complexity of the mortgage market and the mortgage settlement agreement, it is not possible to know immediately if a borrower will be eligible for relief. The Attorney General's office will post updates for consumers on the Attorney General’s website. For specific questions contact the Missouri Attorney General’s Mortgage Settlement Hotline at 855-870-7676.
Register with the Attorney General’s Office to receive important updates.
LAP LOAN
Loan against Property (LAP)
refers to a secured loan category somewhat like a home loan where the borrower provides guarantee by using his property as security. The right of ownership of the property is still with the borrower, and if for some reason, the borrower is unable to repay the loan amount, the property can always be sold off to pay off the debt.
The maximum loan amount varies from bank to bank and could range from Rs.2 lakhs up to Rs.100 lakhs. The loan amount depends on the property valuation, your income and of-course your repayment capacity.
The maximum loan amount can come upto 80% to 100% of property value for commercial setups and up to 80% for residential properties (This is really variable as it completely depends on the valuation of your property).
The maximum loan tenure in Loan Against Property cases is 15 years.
Be ready to provide security, collateral or guarantors in order to obtain a Loan Against Property, not to mention a long verification process.
VA Loans for Vets NMLS#184169
5050 North 40th Street, Ste 260
Phoenix, AZ 85018
602-908-5849
Jimmy Vercellino is one of the nation’s top VA Home Loan mortgage originators. A Marine veteran, he and his team work hard to help veterans take advantage of their VA loan benefit and become homeowners. From start to finish, they guide their clients through the process and make it as smooth and stress-free as possible. Visit the site at https://www.valoansforvets.com
Jimmy Vercellino is one of the nation’s top VA Home Loan mortgage originators. A Marine veteran, he and his team work hard to help veterans take advantage of their VA loan benefit and become homeowners. From start to finish, they guide their clients through the process and make it as smooth and stress-free as possible. Visit the site at https://www.valoansforvets.com
VA Loans for Vets NMLS#184169
5050 North 40th Street, Ste 260
Phoenix, AZ 85018
(602) 908-5849
Empowering the Unbanked: The Vital Role of NBFCs in Promoting Financial Inclu...Vighnesh Shashtri
In India, financial inclusion remains a critical challenge, with a significant portion of the population still unbanked. Non-Banking Financial Companies (NBFCs) have emerged as key players in bridging this gap by providing financial services to those often overlooked by traditional banking institutions. This article delves into how NBFCs are fostering financial inclusion and empowering the unbanked.
what is the best method to sell pi coins in 2024DOT TECH
The best way to sell your pi coins safely is trading with an exchange..but since pi is not launched in any exchange, and second option is through a VERIFIED pi merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and pioneers and resell them to Investors looking forward to hold massive amounts before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade pi coins with.
@Pi_vendor_247
BYD SWOT Analysis and In-Depth Insights 2024.pptxmikemetalprod
Indepth analysis of the BYD 2024
BYD (Build Your Dreams) is a Chinese automaker and battery manufacturer that has snowballed over the past two decades to become a significant player in electric vehicles and global clean energy technology.
This SWOT analysis examines BYD's strengths, weaknesses, opportunities, and threats as it competes in the fast-changing automotive and energy storage industries.
Founded in 1995 and headquartered in Shenzhen, BYD started as a battery company before expanding into automobiles in the early 2000s.
Initially manufacturing gasoline-powered vehicles, BYD focused on plug-in hybrid and fully electric vehicles, leveraging its expertise in battery technology.
Today, BYD is the world’s largest electric vehicle manufacturer, delivering over 1.2 million electric cars globally. The company also produces electric buses, trucks, forklifts, and rail transit.
On the energy side, BYD is a major supplier of rechargeable batteries for cell phones, laptops, electric vehicles, and energy storage systems.
If you are looking for a pi coin investor. Then look no further because I have the right one he is a pi vendor (he buy and resell to whales in China). I met him on a crypto conference and ever since I and my friends have sold more than 10k pi coins to him And he bought all and still want more. I will drop his telegram handle below just send him a message.
@Pi_vendor_247
how can I sell pi coins after successfully completing KYCDOT TECH
Pi coins is not launched yet in any exchange 💱 this means it's not swappable, the current pi displaying on coin market cap is the iou version of pi. And you can learn all about that on my previous post.
RIGHT NOW THE ONLY WAY you can sell pi coins is through verified pi merchants. A pi merchant is someone who buys pi coins and resell them to exchanges and crypto whales. Looking forward to hold massive quantities of pi coins before the mainnet launch.
This is because pi network is not doing any pre-sale or ico offerings, the only way to get my coins is from buying from miners. So a merchant facilitates the transactions between the miners and these exchanges holding pi.
I and my friends has sold more than 6000 pi coins successfully with this method. I will be happy to share the contact of my personal pi merchant. The one i trade with, if you have your own merchant you can trade with them. For those who are new.
Message: @Pi_vendor_247 on telegram.
I wouldn't advise you selling all percentage of the pi coins. Leave at least a before so its a win win during open mainnet. Have a nice day pioneers ♥️
#kyc #mainnet #picoins #pi #sellpi #piwallet
#pinetwork
what is the future of Pi Network currency.DOT TECH
The future of the Pi cryptocurrency is uncertain, and its success will depend on several factors. Pi is a relatively new cryptocurrency that aims to be user-friendly and accessible to a wide audience. Here are a few key considerations for its future:
Message: @Pi_vendor_247 on telegram if u want to sell PI COINS.
1. Mainnet Launch: As of my last knowledge update in January 2022, Pi was still in the testnet phase. Its success will depend on a successful transition to a mainnet, where actual transactions can take place.
2. User Adoption: Pi's success will be closely tied to user adoption. The more users who join the network and actively participate, the stronger the ecosystem can become.
3. Utility and Use Cases: For a cryptocurrency to thrive, it must offer utility and practical use cases. The Pi team has talked about various applications, including peer-to-peer transactions, smart contracts, and more. The development and implementation of these features will be essential.
4. Regulatory Environment: The regulatory environment for cryptocurrencies is evolving globally. How Pi navigates and complies with regulations in various jurisdictions will significantly impact its future.
5. Technology Development: The Pi network must continue to develop and improve its technology, security, and scalability to compete with established cryptocurrencies.
6. Community Engagement: The Pi community plays a critical role in its future. Engaged users can help build trust and grow the network.
7. Monetization and Sustainability: The Pi team's monetization strategy, such as fees, partnerships, or other revenue sources, will affect its long-term sustainability.
It's essential to approach Pi or any new cryptocurrency with caution and conduct due diligence. Cryptocurrency investments involve risks, and potential rewards can be uncertain. The success and future of Pi will depend on the collective efforts of its team, community, and the broader cryptocurrency market dynamics. It's advisable to stay updated on Pi's development and follow any updates from the official Pi Network website or announcements from the team.
What website can I sell pi coins securely.DOT TECH
Currently there are no website or exchange that allow buying or selling of pi coins..
But you can still easily sell pi coins, by reselling it to exchanges/crypto whales interested in holding thousands of pi coins before the mainnet launch.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and resell to these crypto whales and holders of pi..
This is because pi network is not doing any pre-sale. The only way exchanges can get pi is by buying from miners and pi merchants stands in between the miners and the exchanges.
How can I sell my pi coins?
Selling pi coins is really easy, but first you need to migrate to mainnet wallet before you can do that. I will leave the telegram contact of my personal pi merchant to trade with.
Tele-gram.
@Pi_vendor_247
Currently pi network is not tradable on binance or any other exchange because we are still in the enclosed mainnet.
Right now the only way to sell pi coins is by trading with a verified merchant.
What is a pi merchant?
A pi merchant is someone verified by pi network team and allowed to barter pi coins for goods and services.
Since pi network is not doing any pre-sale The only way exchanges like binance/huobi or crypto whales can get pi is by buying from miners. And a merchant stands in between the exchanges and the miners.
I will leave the telegram contact of my personal pi merchant. I and my friends has traded more than 6000pi coins successfully
Tele-gram
@Pi_vendor_247
how to sell pi coins in South Korea profitably.DOT TECH
Yes. You can sell your pi network coins in South Korea or any other country, by finding a verified pi merchant
What is a verified pi merchant?
Since pi network is not launched yet on any exchange, the only way you can sell pi coins is by selling to a verified pi merchant, and this is because pi network is not launched yet on any exchange and no pre-sale or ico offerings Is done on pi.
Since there is no pre-sale, the only way exchanges can get pi is by buying from miners. So a pi merchant facilitates these transactions by acting as a bridge for both transactions.
How can i find a pi vendor/merchant?
Well for those who haven't traded with a pi merchant or who don't already have one. I will leave the telegram id of my personal pi merchant who i trade pi with.
Tele gram: @Pi_vendor_247
#pi #sell #nigeria #pinetwork #picoins #sellpi #Nigerian #tradepi #pinetworkcoins #sellmypi
when will pi network coin be available on crypto exchange.DOT TECH
There is no set date for when Pi coins will enter the market.
However, the developers are working hard to get them released as soon as possible.
Once they are available, users will be able to exchange other cryptocurrencies for Pi coins on designated exchanges.
But for now the only way to sell your pi coins is through verified pi vendor.
Here is the telegram contact of my personal pi vendor
@Pi_vendor_247
how to sell pi coins at high rate quickly.DOT TECH
Where can I sell my pi coins at a high rate.
Pi is not launched yet on any exchange. But one can easily sell his or her pi coins to investors who want to hold pi till mainnet launch.
This means crypto whales want to hold pi. And you can get a good rate for selling pi to them. I will leave the telegram contact of my personal pi vendor below.
A vendor is someone who buys from a miner and resell it to a holder or crypto whale.
Here is the telegram contact of my vendor:
@Pi_vendor_247
2. US Mortgage Corporation (NMLS ID#3901). Corporate Office is located at 201 Old Country Road, Suite 140, Melville, NY 11747; 631-580-2600
or (800) 562-6715 (LOANS15). Licensed Mortgage Banker-NYS Department of Financial Services- AK, AL, AR, CA, CO, CT, DC, DE, FL, GA, IA,
ID, IL, IN, KS, KY, LA, MA, MD, ME, MI, MN, MS, MT, NC, ND, NE, NH, NJ, NM, OH, OK, OR, PA, RI, SC, SD, TN, TX, VA, VT, WA, WI, WV, WY State
Banking Departments/Regulators. Rates, fees and program guidelines are subject to change without notice. Certain restrictions may apply.
Some loans arranged through third parties. First mortgages only. Not all products and/or programs are available in all states.
5. First-time home buyers always seek to find information about the various mortgage loan options
to finance their home purchase. This is your first step in the home purchase process. It is more
important to make financial arrangements to buy a home before you even begin to look for a
suitable property. Fix your budget before you scour for properties.
Once you fix the budget, figure out how much of the budget you can fund from your savings.
Most lenders will require you to make a down payment on the purchase price of the property. If
you can fund a certain percentage of the price, you can begin to look for lenders who can fund
the rest of the purchase. After this, you have to check your credit report. A good credit score is
very important for a loan approval process. If your report shows delayed payments, too many
debts, and other such negative factors, then it will make a huge impact on the loan approval
process. If you have a good credit score, lenders would offer you loans at lower interest rate. For
a borrower with a low credit score, the interest rates charged are higher.
There are many types of loans to suit the various situations of a borrower. The following chapters
encompass the different loan options that you can choose from to finance your home purchase.
Understand each loan and decide for yourself which is best suited for you.
www.usmortgage.com 02
7. Generally when you wish to purchase a house, you could apply for a mortgage loan with any
financial institution. While you borrow a loan from the lender to buy a property, a mortgage
agreement is filed. The property is held as security, which may be foreclosed by the lender if
you default on your loan. It is a good option if you wish to close the debt by repaying before
the deadline of mortgage agreement to reduce the amount you pay as interest in total.
A loan application process can start even before your purchase. It is advisable to seek
pre-approval for the loan from the lender by producing necessary documents well before
your purchase. Lenders require a lot of paperwork that includes proof of your income, credit
report, tax return documents, documentation of all your assets, etc. Your credit report is very
important in the loan approval process. Lenders are generous to borrowers with a good credit
score. If you have a credit score over 700, you are likely to get a loan at low interest rates
unlike borrowers with a bad credit score.
The risks involved in conventional home mortgage include that of foreclosure if you default on
the payment. These loans do not cover processing costs during your purchase. A conventional
loan is not easily available for buyers with a bad credit report. However, it is indeed a great
option for good credit score holders as they can make relatively low monthly mortgage
payments with flexible terms of the loan agreement. This type of loan has many restrictions
and eligibility criteria.
There are mainly two types of mortgage loans depending on the interest rate and period of
payment. Fixed-rate mortgage is a loan in which the interest rate is fixed for the complete
period of the mortgage agreement. As a borrower, you will have to make the same amount
of payment every month until you clear your debt. A variable or adjustable rate mortgage is
a type of loan where the interest rates fluctuate with time. The interest rate may increase or
decrease according to the change in bank policies, regulations of the central bank, etc. In this
case, there is a disadvantage for the borrower as in he might end up paying more interest on
the loan.
Usually, after purchasing a property, you would be expected to make a down payment on the
loan. The down payment you make depends on the cost of the property and also decides the
loan to value ratio. This ratio indicates the risks in the mortgage loan. If the ratio is high, then
the property value upon foreclosure may not be sufficient to cover the balance loan amount.
One of the major factors in the loan process is the value
of the property. Any appreciation or depreciation in
the value of the property could affect the terms
of the loan or the loan approval process. The
lenders use their own appraisers to estimate
the value of the property you wish to purchase.
The normal time period is very long for the
mortgage payments on a conventional mortgage
loan. Due to this, a borrower might have to pay
a large interest on the principal.
04www.usmortgage.com
9. You can get a mortgage loan that is insured by FHA (Federal Housing Administration), also
known as an FHA-insured loan. If you have a low annual income and cannot afford to buy a
home, the FHA loan assists you in the purchase. Typically the lender would pay almost 1% of
the loan amount as premium for the mortgage insurance to the FHA on behalf of the borrower.
This loan was initiated as a result of the Great Depression which occurred in the 1930s. It was
during this time that many foreclosures happened which caused great loss to lenders.
The FHA on its own does not provide loans. Instead, it insures loans provided by private lenders.
While approaching for any loan, you have to contact a mortgage broker or several lenders.
You have to find out if they have the permits from the Department of HUD (Housing and Urban
Development) to provide FHA insured loans.
Generally, FHA-insured loans are provided to help moderate and low income families purchase
homes at lower processing costs, interest rates, and monthly payments. Lenders are encouraged
to provide loans to even those borrowers who have a not-so-good credit score, as this loan
protects the lenders against default on mortgage payments. However, if your credit score is
less that 650, it might be hard for you to get such loans. If the interest rates decrease during the
period of the mortgage agreement, you may think about refinancing your loan to get the benefit
of low monthly payments.
www.usmortgage.com 06
10. VA Loan For
Veterans
A long-term loan provided for the US veterans to purchase homes is known
as the VA loan. It was initiated by the Department of VA (Veteran Affairs) to
help veterans own homes in areas with shortage of housing credit. If you are
a veteran, it helps to finance your home purchases in cases where you cannot
find private funding. This type of loan does not require any down payment on
the principal amount. Typically, you can buy homes in rural areas, towns, and
small cities. VA loans do not apply for large cities or metropolitan areas. There
are three options in this loan.
www.usmortgage.com07
13. The first option is that you can borrow a 103.15% of a property purchase price
without the need for a PMI (private mortgage insurance). This way, you can use
the money to pay for the property and the other costs involved in the sale or
use it towards home improvements. The second option is that you can borrow
20% of property value as a second mortgage in addition to USD6000 for home
improvements. The third option available is to borrow 90% of a property value
to refinance an existing mortgage.
You can approach Fannie Mae and get an application form 1003 (form 65 in case
of Freddie Mac). Fill out all the particulars on the form. Any false statements on
the form may lead to penalization. The paperwork involved for the loan approval
process includes:
• Tax returns proof of recent two years
• Credit report
• Documents of finances and other assets (accounts, properties, etc.)
• Proof of your annual household income – W2 statements of recent two years
• Copy of recent two or three pay stubs.
Opting for a PMI (private mortgage insurance) will help you qualify for those
conventional mortgage loans which are not backed by the government. PMI is
a private sector insurance program associated with the FHA-insured loan and a
VA loan. It reduces the lender’s risk by insuring the loans and helps you finance
home purchases in areas where VA loans are unavailable. The borrower will
be charged only with a VA funding fee in addition to the monthly mortgage
payment.
A funding fee is an amount that you need to pay the Department of VA as per
the US law. The fee may be included in the loan amount or paid in cash to the
VA. If you are disabled, you will receive almost ten percent of compensation
due to which you will be exempted from the funding fee. The VA loan can cover
home, farm, or business purchases.
You can refinance an existing loan using a new VA loan that comes at lower
interest rates. Existing VAloans can also be cleared by making regular payments
and these have no extra charges if paid off before the given deadline.
Veterans and their surviving spouses are eligible to get this loan. However, if
the veteran remarries, the previous spouses cannot apply for a VA loan. The VA
loan program is designed to help the veterans and thus has features that suit
the needs of any moderate- or low-income veteran families.
10www.usmortgage.com
14. FHA 203(k) - The Home
Improvement Loan
11 www.usmortgage.com
15. If you want to buy a run-down house with a dream to fix it up, there are hardly many lenders who
would agree to finance your purchase. You might acquire the house at a low price but the repair
costs would be higher. Many foreclosed homes or government-owned homes come under this
category where they are poorly maintained. In such cases, you can approach lenders for an
FHA 203(k) loan. This loan is also known as rehabilitation loan and is designed to help buyers
remodel new purchases.
The loan is endorsed by the Federal Housing Administration and helps to make purchases or
rehabilitate uninhabitable properties. The loan amount includes the costs for property remodeling
and repair that includes labor and materials. It can also include up to six months of mortgage
payments during property renovation. The only eligibility criterion for an FHA 203(k) loan is
that the borrower must be able to make monthly mortgage payments. The normal factors like
confirmation of annual income, credit report, etc., also play a role in the loan-approval process.
FHA 203(k) loans are of two types. Regular 203(k) mortgages are provided for those properties
that require structural repair. Modified or streamlined 203(k) mortgage is provided for properties
that require normal repairs. It covers refinancing and also purchase of the properties. It is
a big loan and takes a longer closing time. But, it is a good option as it includes purchase
and improvements.
12www.usmortgage.com
16. Maria Amalia Arrua
Mortgage Loan Originator
NMLS #851361
201 Old Country Road, Suite 140
Melville, NY 11747
Office: (631) 750-0565
Cell: (516) 554-7272
maria.arrua@usmortgage.com
www.usmortgage.com
1994 2014