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Foreclosure Loan Programs 

Today Lending has 5 loan products to finance foreclosed properties. 

 

Option 1:  The HomeStyle Purchase Renovation Loan                 BEST RATES

  • You can buy the property and finance repairs in one straight forward package
  • Available for owner occupants with 5% down and investors with 25% down
  • Best rates and only 1 set of closing costs.
  • Available for ANY frame built property. $100,000 Minimum loan amount

 

Option 2:  The Simple HomePath Loan                              EASIEST PROGRAM 

  • No Appraisal is required. Property is purchased “As Is.”
  • No Mortgage Insurance and no Prepayment Penalties.
  • Seller can pay up to 6% of purchase price for your closing costs.
  • Only for Fannie Mae properties. Check www.homepath.com to determine eligibility.

 

Option 3:  The HomePath Renovation Loan          NO MORTGAGE INSURANCE

  • Buyers may finance the purchase price AND repairs up to 20% of the

      “As repaired” value or $30,000 whichever is less. (Appraisal required.)

  • You select the contractors for repairs. Contractors must be licensed and carry insurance.
  • Owner occupants only. $100,000 Minimum Loan Amount required.

 

Option 4: FHA $100 Down Loan                            ONLY $100 DOWN PAYMENT   

  • Only for HUD owned properties. Check www.hudhomestore.com for eligibility
  • Look for FHA Financing Insurability:  “Insured or Insured With Escrow.”
  • Seller will pay 3% for closing costs. $1,000 Earnest Money required.

 

Option 5: FHA 203 (K) Program                                         MOST TRADITIONAL

  • Two sets of closing costs and high rate during repair period. No investors.
  • 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.  
 
 
 
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Oklahoma ID Today Lending LLC NMLS #182041, Company License Number Lic/Reg #: MB001479 Christopher Davenport NMLS ID: 208565 OK# Lic/Reg #: MLO01977 David Walter NMLS ID: 208621 Lic/Reg #: MLO01978 Texas ID Today Holdings dba Today Lending NMLS 317473 Company License number 76281 . Christopher Mitchel Davenport Mortgage Broker 56277