FHA 203k Low Down-Payment | FHA Fixer Upper Loan

FHA 203k Streamline Loan

Single Mortgage for Purchase/Refi Remodeling or Repairs*
All in One Loan!

FHA 203k Streamline Benefits:

Low Down Payment
Flexible credit qualifying
Assumable loans
One loan - long term fixed rate finances purchase and repairs/remodeling
Up to $35,000 for repairs or improvements (including contingency reserve and 203-k fees)
No need for credit cards and expensive interest rates
Must be owner Occupied
Confidently purchase foreclosed properties that need a little TLC
Contractor gets paid ½ up front and ½ after completion

*New FHA Rules

Allowable Seller paid closing costs will be reduced from 6% of purchase price to 3% of purchase price.

*As of 11/21/11 30 year fixed rate is at 4.125% (APR 5.049%) is not an offer to extend credit. Rate subject to change without notice.

FHA 203K Rehab Info

FHA Loan Limits Per State

$150k Mortgage Analysis

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Peter Boyle 612.701.6816
20 Years Mortgage Lending Experience!
NMLS# 218261

Summit Mortgage Corporation
Summit Home Mortgage Inc. is FHA approved but is not officially affiliated with HUD
*Please check with your lender for current pricing and personal mortgage analysis.
*The information in this Web site can change without notice. This is an Equal Housing Lender