For some people the idea of owning a home is a distant dream. With so many people struggling with job challenges, economic instability and fear of the future the glimmer of hope seems far away--until now.
Many of us (consumers and professionals alike) are aware of FHA's 203k Program. This special FHA financing program allows the borrower to build the cost of renovations (up to $35,000) into their mortgage. The result is a win-win situation for everyone from the buyer to the local community. The renovations can include anything from new paint to carpet, well and septic, new appliance, etc.
Do you have a dream of owning a home? How about a multi-unit dwelling where you rent out apartments and make some rental income? Well here is the good news...
RE-buildUSATM is an organization founded to help real estate professionals introduce the American public to a new concept in home ownership. At the same time it affords new business opportunities to lenders, as well as the home renovation industry.
RE-buildUSA partners with Lowe's Home Improvement and leading mortgage lenders. Are you thinking about buying a home for you and your family? Have you thought about buying a four-unit apartment building and renting out the other three units for additional income? The goal is help the public fulfill their dream of owning a home while at the same time re-building communities and re-shaping our economy.
Are you interested? Check out the FHA 203k program guidelines and ask yourself this question, "Do I deserve to have a great home, in the perfect area and updated with the latest design trends?
Continue on. . .
FHA 203k Benefits
RE-buildUSA allows you to more easily enjoy the following FHA 203k benefits:
•Only 3 1/2% down payment required, which can be gifted by family members
•More flexible qualification requirements allow those with less than perfect credit to purchase a home at competitive rates
•A single loan for both purchase and improvement of your home means you make only one loan application and pay one set of closing costs - saving you time and money
• FHA loans are assumable and there are no prepayment penalties
•An FHA Energy Efficient Mortgage (EEM) can allow you to qualify for a larger mortgage to add additional improvements that will lower your utility expenses.
•By including cost of renovation in your home mortgage, you pay for these improvements over time at a much lower interest expense than conventional alternatives
•Rather than paying a premium for a home in "perfect" condition, take advantage of the great prices available on foreclosures or other homes on the market that are in need of repair or remodeling
•Instead of paying for previous owners improvements you may not desire, invest instead in exactly the features, colors, styles, etc. that suit your tastes and needs
•Enjoy the opportunity to live in an up-to-date home in a great location closer to work, shopping, cultural activities and more
If you or anyone you know is interested in learning more about RE-buildUSA please call Linda Kemp at 630.688.5121. This program is only available to consumers who occupy the property or non-profit organizations so investors will have to take a pass on this. Why not start building your future right here in the present? It is my pleasure to help you achieve your goal today!
