Indiana 203K Blog

Home Energy Savers At No Cost To You!

Posted by on Jul 10, 2015 in Consumer, Financial, Home & Auto, Tips | 0 comments

Home Energy Savers At No Cost To You! We have learned from our teachers that energy is neither created nor destroyed. But, this doesn’t mean that it is free! It’s never a bad time to learn how to conserve energy, which will in turn save you some money. There are many things you can do to lower your electric bill; here are few:  Turn off the stereo, television, lights and such when you leave the room or if they are not in use.  Turn off computer monitor or shut down your computer when not in use.  Just like your television,...

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203k Streamline Mortgage – Different From the 203K?

Posted by on Jun 26, 2015 in FHA Facts | 0 comments

The 203k streamline mortgage is not the same as the 203k mortgage. The FHA 203(K) Streamline obtained its name because it simplifies the loan process by not requiring the extra cost and details found in its counterpart, the FHA 203(K) loan. Eligible Borrowers This loan program is available only to people who plan to use the properties for which they are getting the loans as their primary residences. If a current homeowner needs to rehab his existing home, he can use this program. Nonprofit organizations can also qualify for this loan...

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Painting? Pay Attention to the Type of Paint You’re Using:

Posted by on Mar 6, 2015 in Consumer, FHA Facts, Home & Auto, Tips | 0 comments

Painting? Pay Attention to the Type of Paint You’re Using:

Don’t pass up buying a home because it requires cosmetic repairs! FHA offers the 203k  mortgage program that provides funds for repairs and/or upgrades. Not to be confused with FHA’s full 203k program, a Streamlined 203k loan eliminates much of the paperwork and simplifies the process to obtain rehab funds. The primary function of the streamline 203k is to aid with those cosmetic or minor repairs One “repair” that is allowed is paint. What kind of paint is best for each room? There’s a basic rule of thumb to follow...

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203K & 203K Streamline Mortgage…What’s the Difference?

Posted by on Feb 20, 2015 in FHA Facts | 0 comments

203K & 203K Streamline Mortgage…What’s the Difference?

The 203k streamline mortgage is not the same as the 203k mortgage. The FHA 203(K) Streamline obtained its name because it simplifies the loan process by not requiring the extra cost and details found in its counterpart, the FHA 203(K) loan. Eligible Borrowers This loan program is available only to people who plan to use the properties for which they are getting the loans as their primary residences. If a current homeowner needs to rehab his existing home, he can use this program. Nonprofit organizations can also qualify for this loan...

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FHA Returned to Anti-House Flipping Restriction January 1, 2015

Posted by on Jan 7, 2015 in FHA Facts, National News | 0 comments

FHA Returned to Anti-House Flipping Restriction January 1, 2015

FHA Returned to Anti-House Flipping Restriction January 1, 2015 While you were ringing in the new year, the FHA was ringing in the anti-house flipping restriction What does this mean to you? In short… the FHA’s Property flipping temporary waiver on the 90 Day Rule expired on December 31, 2014 and will not be extended. This was announced by the Federal Housing Authority on December 11, 2014.  It is important news for investors and home buyers to be aware of starting January 1, 2015 as investors will need to wait 91 days before...

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203K – Is it for Me?

Posted by on Nov 28, 2014 in FHA Facts | 0 comments

“Fixer-Upper” What does that phrase really mean? By definition: Noun 1. fixer-upper – a house or other dwelling in need of repair (usually offered for sale at a low price) Some people shy away from these types of listings because they do not have funds available up front to complete repairs and renovations. Sometimes, repairs and renovations are required for the house to even be habitable. If you have found a fixer-upper that you are interested in purchasing, but don’t have the cash to remodel it; consider the...

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