Think it is impossible to have your cake and eat it too in regards to your home loan? Not any more!
You can solve repairs for homes using a 203k streamline FHA loan. Our latest example was a $15,000 termite repair report the seller did not want to perform. The seller did a closing cost credit and the buyer took the repair problem at close of escrow. This 203k loan finances the repairs above the purchase financing. Closing without a termite clearance using FHA! The buyers are also able to get additional funds to fix up the repairs (nice viewing deck) the way they want to.
Agents! Let me know if you have a situation where the buyer needs funds to fix up a home they would like to make an offer on. Let’s make sure the upgrades will fit the loan program. The 203k process is much easier than you think.
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