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Today Lending has 5 loan products to finance foreclosed properties.
Option 1: The HomeStyle Purchase Renovation Loan BEST RATES
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You can buy the property and finance repairs in one straight forward package
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Available for owner occupants with 5% down and investors with 25% down
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Best rates and only 1 set of closing costs.
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Available for ANY frame built property. $100,000 Minimum loan amount
Option 2: The Simple HomePath Loan EASIEST PROGRAM
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No Appraisal is required. Property is purchased “As Is.”
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No Mortgage Insurance and no Prepayment Penalties.
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Seller can pay up to 6% of purchase price for your closing costs.
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Only for Fannie Mae properties. Check www.homepath.com to determine eligibility.
Option 3: The HomePath Renovation Loan NO MORTGAGE INSURANCE
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Buyers may finance the purchase price AND repairs up to 20% of the
“As repaired” value or $30,000 whichever is less. (Appraisal required.)
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You select the contractors for repairs. Contractors must be licensed and carry insurance.
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Owner occupants only. $100,000 Minimum Loan Amount required.
Option 4: FHA $100 Down Loan ONLY $100 DOWN PAYMENT
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Only for HUD owned properties. Check www.hudhomestore.com for eligibility
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Look for FHA Financing Insurability: “Insured or Insured With Escrow.”
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Seller will pay 3% for closing costs. $1,000 Earnest Money required.
Option 5: FHA 203 (K) Program MOST TRADITIONAL
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Two sets of closing costs and high rate during repair period. No investors.
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Available for any frame built property. (Sorry, no manufactured homes.)
Contact Today Lending for Preapproval before making offers
918-582-7283
Ask for David Walter
Or apply online at www.todaylending.com
Native American, FHA, VA and Conventional available for other properties. |