“FHA is FHA”
Betsy wants to buy a foreclosure property that I showed her that needs renovations.
You have her pre-qualified for FHA. Can she switch to 203K?
When someone is been pre-qualified for FHA financing, there is a 203B which does not include any renovations and a 203K which does involve renovations.
Reverse mortgages are also under the umbrella of FHA. It seems anytime I have a reverse mortgage conversation with anyone they are seldom aware these are all FHA mortgages. Reverse mortgages can be done as a refinance or a purchase, but the structure is completely different as there are no mortgage payments.
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Joe Petrowsky, NMLS #6869
Right Trac Financial Group, Inc. NMLS #2709
110 Main St.
Manchester, Ct. 06042
Office: 860 647-7701 x116
Fax: 860 647-8940
Cell: 860 836-9294
Joe Petrowsky does not guarantee nor is in any way responsible for the accuracy of the information provided herein, and provides said information without warranties of any kind, either expressed or implied.
Equal Housing Statement: We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. We encourage and support an affirmative advertising and marketing program in which there are no barriers to obtaining housing becuase of race, color, religion, sex, handicap, familial status, or national origin.