Join Affiliate member Bob Veech from NJ Lenders for bagels and knowledge!!
Bob will present everything you need to know about FHA 203K Renovation Loans --
What a 203k Loan is, how they work, and how they benefit realtors:
- Sell more homes –Adding additional financing options for prospective home buyers will lead to more homes purchased and increased income for realtors.
- Sell any residential property in any condition to any owner occupant – Many times deals fall apart because the property is not a buyers dream property or is not in the right condition for purchase. With FHA 203k that is no longer a problem. Their desired upgrades, fixes, and renovations can be made to create the prospective buyers dream home.
- Increase real estate values – By using the FHA 203k to raise the property value, the entire neighborhood’s prices will rise as well leading to future higher commissions and better appeal.
- Help clients gain equity – FHA 203K loans allow you to assist your clients with gaining equity in their home
- Help buyers who previously could not buy homes – For those prospective buyers looking for homes but are having trouble qualifying or finding a home, this loan can solve both of their problems
- List more properties previously thought of as “unsellable” due to property condition – The FHA 203k can bring properties back to life. It is there to refurbish houses and sell the unsellable.
