"One of the things about equality is not just that you be treated equally to a man, but that you treat yourself equally to the way you treat a man."Marlo Thomas
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Homeowner Loans : A 3D View of Ownership!
Did you ever imagine that your home can prove to be much more than a mere shelter? Something more than just a roof over your head? Well, once you enter the loan world, you sure cannot overlook the value of the asset you own. If you are a homeowner, you ...
Home Equity Loans - The 3 Deadly Sins of Bad Lenders
You've heard of 'The 7 Deadly Sins', well here's a bit of a spin, but the consequences can be severe if you don't take these into consideration, or keep your eyes open for lenders who could possibly be doing this. Now, there are other more varied ...
Online Loans Made easy
What will it take for you to get a low interest, low payment loan? The answer to that question could be an online loan from one of the many companies that specializes in granting online loans, or e-loans. Some analysts forecast that as more and more ...
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203(k) loans can be very beneficial. Learn how to use only one loan to both finance and repair real estate.
It doesn't matter if you are new to the real estate investing business or have been a real estate investor for years, one thing that you will eventually encounter is the need for capital to either buy property that needs repairing or repair property that you already own. The problem is that most lenders do not want to finance borrowers for the purpose of buying or repairing property that are fixer uppers or handyman specials. This is because lenders often see this type of property as an unstable investment. Even if a borrower does find a lender that will finance them for property that is in need of heavy repairs, the loan amount will be based on a percentage of the current value of the property. Unfortunately, this amount is usually not enough to do all of the repairs or work that is needed.
A simple solution to this problem is the FHA 203(k) loan. The FHA 203(k) is a loan that is secured by the Federal Housing Administration that is used by borrowers for the purpose of fixing up or rehabbing real estate. Some of the advantages of a FHA 203(k) loan are:
1) borrow up to 110% of the after completion value of the property
2) take out one loan to cover a property's purchase price and cost of rehab
3) refinance existing housing
4) finance 100% of the cost needed to improve the property
5) and much more.
To learn more about the FHA 203(k) loan (such as loan limitations, property qualifications, etc.) contact your local FHA approved lender or visit the HUD website at http://www.hud.gov/offices/hsg/sfh/203k/sfh203kc.cfm.
About the Author
Daniel Cobb lives in Chicago, Illinois and is a former realtor who is now a real estate investor. He is also author of the e-book, "Complete Guide To Investing In Real Estate Through Government Scavenger Sales" - an informative e-book on how to purchase real estate through government auctions.
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Tesla CEO Says New Models, Loans On TrackWall Street JournalBy JOSEPH B. WHITE Tesla Motors Inc. Chairman and Chief Executive Elon Musk said Thursday his luxury electric car company is in compliance with terms of its loans from the federal government, and on schedule to launch two new models by the end of next ...and more » |
New York Times |
Loan Terms Made to OrderNew York TimesOr maybe you want to time a refinancing so that the loan is paid up when the kids head off to college. There are a number of lenders that would be happy to oblige. Customized mortgages aren't new. But industry experts say they are seeing more and more ...and more » |
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