How can you finance a foreclosed property?

You found a great deal on a foreclosed property but you don’t have enough money in the

 bank to pay cash for it. You need a loan, but the property is in disrepair so even though

YOU qualify for a Conventional or FHA loan, the PROPERTY itself does not qualify.

Don’t waste your time and appraisal money on the wrong loan program.

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.comto 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 30 Year Fixed                                              3.5% 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

• Used to purchase and do light renovations. Owner occupants only. 60 days to close.
• Decent credit, 640 score, and 3.5% down payment are required. $75,000 minimum loan.

Contact Today Lending for Preapproval before making offers

918-388-9713

Ask for David Walter

Or apply online at www.todaylending.com

Native American, FHA, VA and Conventional available for other properties.  Equal Opportunity Lender ® ©