Your REbuildUSA 203k Specialist

The FHA 203k Specialist is trained to provide the expertise and support that will help you find a great home at a great price and improve it through the use of the FHA 203k program.  You will enjoy these benefits:

• Save time and money - Use one loan to buy and renovate a great home to meet your needs.
• Get more home for your money - Take advantage of the excellent prices for homes that need repair and remodling.
• Low down payment - Enjoy home ownership with as little as 3.5% down.
• Easier qualification - Less strict FHA qualification requirements benefit those with less than perfect credit.
• Earn additional equity - Professional installers do the work, and you can earn "sweat equity" in the process.
• Greater financial stability - Instead of paying for major repairs later, you can pay for improvements over time at a better rate.
• More desirable location - There are many great homes in established neighborhoods that offer perfect FHA 203k opportunities.

It's Easy to Get Started
As your REbuildUSA 203k Specialist I will:

• Help you determine your buying power and get the process started.
• Help you locate the best homes to be renovated for your needs.
• Schedule your home inspections.
• Introduce you to your personal Lowe's renovation consultant.
• Assist you in packaging your renovation bids and financial documents.
• Help you finalize the purchase and begin renovation of your new home.

Enjoy the support of a 203k Specialist at NO additional cost to you!  I even attend closing with you.

Check out http://www.myhome-indiana.com/ or email me at ez2own1@yahoo.com    

RATES DROP

The interest rate for home purchases through Indiana Housing and Community Developement has been dropping steadily and is now considered by most to be "rock bottom".  The rates are for first time buyers and are listed here with the effective dates:

07/08/2009           5.375 %

02/02/2010           4.95 %

09/02/2010           4.20 %

11/12/2010           3.99 %

These rates are lower than your parents were probably able to get and will significantly lower your payments or enable you to get a much better home for the monthly amount you are wanting to spend.  Never has the term "ACT NOW!" been more appropriate. 

To Rehab or Not To Rehab?

Some of the most exciting and profitable purchases on the housing market these days are the bank-owned and HUD acquired homes that are currently spread throughout your neighborhood and mine. Did you ever wonder why they stay on the market so long?  They are normally priced well below market value and some are located in the best areas of town. Why do they sit there so long, boarded up with knee high grass and weeds?  I think the primary reasons are the complicated hoops banks require you to jump through and the simple fact that once most people get a mortgage and buy a home, they have no money left for the extensive updating and repairs that will be necessary to make the home livable. Also just getting the mortgage will be quite a feat since the mortgage companies require all repairs to be completed prior to purchase and the sellers won't allow you to work on the home until after you close on it. Catch 22?  Not anymore.

FHA has a loan program called the FHA 203k which allows you to borrow the money for the purchase and all the repairs up front.  You can close on the home and then have all repairs, updating, painting and even new appliances installed and finished by qualified contractors. There are several 203k Specialists, Realtors who have taken classes to thoroughly understand the program and can guide the buyer from home search through move-in.  Lowe's and ReBuildUSA have joined forces to make this process even easier. Check it out and locate a 203k Specialist in your area by visiting http://www.rebuildusa.com/.  Next we will examine the process in greater detail and demonstrate how you too can buy a home for pennies on the dollar and rehab it into your very own dream home.