Posts from April 2019

A misunderstood and little-known loan product could be the answer to your house-buying woes.

Let's say you've been out looking at homes to buy. You've found something; it's the right size, great location, perfect yard. If it weren't for that darned master—there's no master bath!

Here's something that will rock your world: A loan product that allows you to renovate the home and work the cost of renovation into your mortgage loan, all at a nice sub- 5 percent, 30-year fixed rate. It's called the FHA 203K loan and it's a viable answer for discriminating home buyers in a market with very few choices.

"We do these type of loans all the time," said Nancy Patt, Derry Township resident and senior loan officer for Residential Mortgage Services. "They are a wonderful
option for folks who...

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