FHA Not Only for Rehab Home Loans but Rehab for Mixed-Use Too!
HUD Streamline 203k loan for fixing up a foreclosure or pre-foreclosure home or mixed-use property. yes, mixed-use property but must be owner occupied and restrictions apply to size of retail storefront's allowable space.
Not-for profit entities and government agencies can qualify for the 203K streamline loan too!
Also applies to up to 4 units and condos a long as owner occupied!
I don’t care what the nay-sayers say, this is the best time to BUY ! Basics of how the FHA 203K Streamline works:
- The Regular FHA 203K allows the alteration of any structural walls, hire architect, provide new plans for any structural repairs or add-ons, and its more time consuming like a regular construction loan.
- The FHA 203K Streamline is only for cosmetic repairs (interior/exterior), as long as you don’t knock down structural walls or any room add-ons, any cosmetic repair are permitted.
Contact me today to get your free information on investing with a 203k streamline loan.
cmoscinski@comcast.net or 708/369-8094 - Don't wait these rates wont last long!
This valuable information provided by Christine Moscinski, Broker Associate at GOBBER GMAC Real Estate and market expert in Chicago's Western Suburbs. Call her today to find your next home or investment property at 708/369-8094!
http://www.ehousehuntonline.com