Using FHA 203K

This class will demystify the REO offer process. To help the agent understand the REO contract and addendum. To show the agent options for their business. To empower the student with understanding how to sell bank-owned and foreclosed properties using the FHA 203K loan for rehab, repairs and simple cosmetic improvements. You will see how to get more closings now! This power combination is the Dynamic Duo in the current market and is a MUST KNOW in building your book of business.



What type of property qualifies for the FHA 203K loan product?

What type of buyer can use the FHA 203K?

What is the maximum loan amount?

What type of repairs and improvements qualify for the FHA 203K?

What are the downpayment requirements?

How long does it take to close?

Topics Included:

The REO Process
An Introduction to REO Homes
Listing Sites
Advertising and Showing REO Homes
Financing for REO Homes
Seller Addendum
Making the offer
Contract Process
Pre-Closing Requirements
Other Issues
FHA 203K Mortgage Loan
Demystify the Loan Process
Responsible Transactions
Renovation Loan IQ
Understanding Home Improvement First Mortgages
Comparing Home Improvement First Mortgage's
FHA Financing
Independent HUD Consultant
Benefits of Home Improvement First Mortgage's
Successfully writing the contract
Understanding Down-Payment Assistance Programs w/FHA 203K
Understanding the Work Flow





Name Sales End Price
Member   Ended $12
Non-member   Ended $22

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HUD FHA Lender List

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