Once we have an initial consultation to discuss your goals and questions, the first step is to complete a secure online loan application.Ī loan application takes 10-15 minutes at your convenience, and allows the lender to pull a copy of your credit history and submit the initial application through preliminary underwriting for the purpose of matching your unique lending scenario with all available programs that you are eligible for.Īt this point your lender can discuss actual rates, fees and program options, as well as issue a pre-qualification letter and home shopping / purchase offer instructions for your real estate agent. The following outline highlights the process of getting a renovation loan: You can Call us directly (844) 204-2035 for any questions about renovation loans, OR CLICK HERE to submit a contact request online and we will have one of our licensed Alabama Rehab Loan Network members connect with you asap. To further that goal, FHA offers favorable loan terms, higher loan limits, and flexible down payment options to qualified buyers. The 203k rehabilitation mortgage program was intended to expand homeownership opportunities and affordability while revitalizing communities and neighborhoods by providing financing for properties that need renovation work to make them livable or sellable.įHA's primary goal is to help borrowers purchase a home they may not otherwise be able to finance based on the down payment requirements of most conventional loan programs. Discounted Listings - Get a better deal when buying a property that needs a little TLC.Perfect "Fixer-Upper" Loan - New paint, carpet, kitchen remodel.
#FANNIE MAE FORECLOSURES IN GULF SHORES PLUS#
Low Down Payment - Finance up to 96.5% plus upgrads.Energy Efficient Upgrades - Save on utility expenses.Increased Values - Improve the re-sale value and save money.Get What You Want - Buy a property, turn it into a home.Flexible Underwriting - Standard FHA credit guidelines.Finance Upgrades - Cosmetic and structural rehab work.
Renocation loan program helps preserve or increase neighborhood real estate values, as well as create employment opportunities for Gulf Shores 203k Contractors.
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