FHA 203k Rehab Home Loan | 3.5% Down-Payment

FHA 203k Rehab Streamline Mortgage

Single Mortgage for Purchase/Refi Remodeling or Repairs

Only One Loan!

FHA 203k Rehab Streamline Benefits:

3.5% down
Flexible credit qualifying
Assumable loans
One loan - long term fixed rate finances purchase and repairs/remodeling
Up to $35,000 for repairs or improvements
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

Mortgage insurance premiums are increasing from 1.75% up front to 2.25% up front (EFFECTIVE APRIL 1, 2010)

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

FHA 203K Rehab Info

FHA 203k EEM Go Green

FHA 203k Energy Efficiency Mortgage EEM Only

FHA Loan Limits Per State

$150,000 Mortgage Plans FHA Included

Call Peter Boyle 612.701.6816
NMLS # 218261
pboyle@summit-mortgage.com

*Summit Mortgage Corporation
*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