Tuesday, June 25, 2013

Contractor's Guide to the 203k Loan Program


This handy guide provides a remodel contractor all the information they need to get more construction projects going than you might want. It is on you to tell us to slow it down a bit if you get swamped with work. HUD has increased the loan limits across the country so this loan can be used in most any neighborhood in the USA.

With all of the foreclosures on the market that require some repairs the 203k is at an all time high volume. I'll show you how to avoid the pitfalls and gain access to the most powerful remodel product on the market today.

HUD increased the loan limits in "high cost" areas for a single family home to $729,750 and over $1.4 million for a four-plex. While the limits are lower in other areas this still lets you work in just about any neighborhood in the USA. Want to know what the limits are in your area go to the HUD website and type in your county and state.

I'll also show you how to take the work you already get and bump it up. I mean when a customer calls for a bath or kitchen remodel, I'll show you how easy it is to take that smaller job and turn it into a project while giving your customer a greater service and turn this into a whole house remodel project. Your customer gets a low cost rehab loan. A 5-6% interest rate is typical.