Carrington Mortgage Services Expands Its Offerings to Include FHA Streamline 203K Loans – SANTA ANA, CA–(Marketwire – Jan 15, 2013) – The mortgage lending division of Carrington Mortgage Services, LLC (Carrington) today announced that it will offer the Streamline FHA 203K loan program..
Certified 203k Contractors – Through the 203k Contractor Certification Program, contractors receive education on the 203k to help them better understand the complexities, guidelines, paperwork, time lines, compensation structure, lender overlays, necessary and recommended processes, eligible and ineligible items in addition to roles of the various participants (lender, consultant, Realtor®, and consumer) in the 203k.
FHA Lenders – 203k Loans, Streamline Refinance – The important thing when shopping for a lender who can help you with an FHA loan is if the lender is FHA approved and the loan officer that you work with is knowledgeable when it comes to FHA guidelines. The bigger the bank, the greater the likeliness that there are FHA lenders there.
· FHA loans bring home ownership into reach for buyers who might have a hard time getting approved with conventional lenders. These loans are not right for everybody, but they have several appealing features:
FHA Lenders – Approved FHA Mortgage Lender – FHA Lenders Find an Approved FHA Mortgage Lender: FHA lenders provide home lending that enables homeowners with bad credit to refinance with a low fixed rate loan. FHA mortgage lending has expanded greatly since its inception in 1934. Millions of consumers have become homeowners with FHA home loans.
FHA 203k loans are designed to help borrowers finance an older home that needs significant repairs. To get an FHA 203k loan, you must work with an FHA-approved lender. You will also have to provide a detailed proposal of the work you want to do.
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Buying a Fixer-upper Home? How to Finance the Repairs – FHA only limits the total loan amount which includes the purchase price and repairs. Myth #5: FHA 203k loans take too long to be approved. When working with professionals who are well versed in rehab.
· FHA approved condos. FHA approved condominiums meet the mortgage insurance guidelines of the Federal Housing Administration and are eligible for fha mortgage financing.
HUD.gov / U.S. Department of Housing and Urban Development (HUD) – Reverse Mortgages through FHA’s Home Equity Conversion Mortgages (HECM) Limits a list to Lenders who have done a HECM within the past 12 months Rehabilitation: 203(k) Rehabilitation Mortgage Insurance Program Limits a list to Lenders who have done a 203(k) within the past 12 months
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