November 2010

Chicago, IL FHA 203k – How Can an FHA 203K Rehab Mortgage Save You Money?

This was originally published at www.ptmortgage.com/blog. FHA 203k loans are a great way to buy foreclosed homes or other properties that need extensive work or repairs in order to qualify for financing, but they can also be used for homes that are in great shape but just need some remodeling. This is one of the great advantages of the FHA 203k rehab loan, that it is adaptable and can be used for different purposes, depending on the specific needs of the borrower. If you are even thinking about doing extra work on your home once you move in, make sure to compare the options. The FHA 203k rehab loan is more expensive at first, But in the long run it is likely to save you money. The key again is to make sure you deal with experts, if you are buying a home in Chicago with an FHA 203k mortgage,…

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Chicago FHA 203k – A Home Repair Loan and Mortgage All in One

This article was published in Forbes magazine earlier this year. it gives a good overview of how the program works and some of the best ways to use it. The FHA 203k rehab loan is a great way to buy a foreclosed property or any home that needs repairs, updating and improvements, and it is a great way to save money. The FHA 203(k) Loan: A Home Repair Loan And Mortgage All In One Amy Fontinelle (Forbes) Are you interested in buying a fixer-upper, but don’t have the cash to remodel it? Or maybe you have saved money for remodeling and you’ve found a house you love, but your lender won’t allow you to buy it because the house isn’t considered habitable without toilets. There are always properties on the market that weren’t maintained by cash-strapped former owners, were treated poorly by renters or were deliberately trashed by formers owners…

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The Chicago FHA 203k Blog is Now Up and Running

Welcome to Chicago 203k, my new blog on everything to do with the FHA 203k rehab loan. This loan is a great way to buy a home in a rough condition, and turn it into a home you are proud to have your friends and family over to. It is a great way to save money and build home equity, and if you are buying a foreclosed home or a home with major property conditions, it may be the only way to finance the property (the other option is to pay all cash). This is part of FHA, so this loan is available with a low down payment, affordable rates and you don’t have to have perfect credit in order to qualify. This is a great program, but you need to know what you are getting into. If you do an internet search on FHA 203ks, you are sure to…

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