Bradenton Real Estate

April 8, 2009

WANT TO BUY A DISTRESSED PROPERTY & NEED MONEY FOR IMPROVEMENTS? HUD 203K LOAN INFO!

Home Improvement Made Easier
With 203(k) loans!

You can take advantage of a “fixer” home and make repairs with FHA 203(k) Rehabilitation mortgage. With one loan that combines the cost of buying the home with the cost of making repairs, the 203(k) could be ideal for qualified buyers interested in purchasing a home in need of repairs or updating!

The 203(k) advantages:203k-photo

 Refinancing existing liens on eligible primary, owner occupied residences and rehabilitate such a dwelling
 Qualify with as little as 3.5% down
 Cash needed for repairs is built into the loan amount
 Loan amount is based on the “as-improved” value
 Owner occupied, FHA approved condos can qualify

For homes needing limited repairs, qualified buyers may opt to use the FHA Streamline 203(k), featuring all of the advantages of the 203(k), except that up to $35,000 of loan proceeds can be applied toward repair / rehabilitation.

For More Information:
http://www.hud.gov/offices/hsg/sfh/203k/203kabou.cfm

At Countrywide, you get direct access to local home loan experts so that you can turn that “fixer-upper” into a cozy, comfortable home!

Call Bill McGowan for more information or visit us on the web at:
http://home.countrywide.com/janenemcgowan

Bill McGowan
Countrywide
Home Loan Consultant

bill-mcgowan-print1

Office 941.708.3137 ( Ext. 225)
Mobile 941.720.5665
Fax 866.409.5182
bill_mcgowan@countrywide.com

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