A Guide for the most popular all-in-one purchase or refinance and real estate rehab loan product in the USA
“In 1961 the FHA (Federal Housing Administration) came out with a purchase or refinance loan guarantee product that included money to make repairs in order to assist home buyers and owner’s get their properties fixed up. The program was deemed a great way to accomplish this. While many were done, the use of the program was hindered by typical large amounts of paperwork and in realty few were actually completed. In 1994 the program was revised addressing the paperwork issue by creating “203k Consultants” who would learn the paperwork end of the program and help the borrowers through the pitfalls of the program. Mike Young was one of those early “203k Consultants” who decided early on to become an expert in the 203k loan program. Mike has been hearing so much misinformation surrounding the 203k during the past few months that he felt the need to clear the air with his new book ’203k Loan – The hottest rehab loan product on the market’ as the first ‘consumer guide’ for the purchase or refinance and rehab of real estate. While the FHA 203k loan program is one of the easiest loans for borrower qualification it is likely the most misunderstood. Since he housing meltdown the FHA loan limits have increased dramatically making this loan available to more consumers than ever before. This ‘consumer guide’ takes you through six simple steps get your next home loan with money for fixing it up all-in-one loan, a must for anyone buying real property this year. Borrowers can save from $400-1000 by using the tips in this book.”
About the author:
Michael A. Young has been a national leader in providing FHA 203k information and training to consultants and consumers and one of the largest FHA 203k consultants since 1994. Guest speaker at numerous home inspector conventions and providing continuing education for appraisers and home inspectors as well as thousands of FREE public awareness seminars.