RENOVATION STATION
LOAN PROGRAM FOR SOMEONE TO PURCHASE AND RENOVATE
WITH ONE LOAN
FHA 203K
4 DOCUMENTS NEEDED TO GET STARTED
MINIMUM FICO SCORE FOR MORTGAGE LOAN
580
AMOUNT OF STATES NATASHA ROBINSON IS LICENSED IN
18
RENOVATION COST THRESHOLD THAT REQUIRES A HUD CONSULTANT
$75,000
LOAN OPTION WITH 0% DOWN PAYMENT
VA LOAN
Amount of time an owner-occupied borrower intends to stay in the home before selling or refinancing
Minimum 1 year
YEAR LORAINE THOMAS BECAME DESIGNATED MANAGING BROKER FOR OAK LAWN
2021
The maximum purchase LTV listed for FHA Standard 203(k) up to 110%
96.5%
TYPES OF NON-QM LOANS
DSCR, BANK STATEMENT, 1099, P&L
CREDIT AMOUNT FOR BUYER
AGENCY LEADS
$395
Total amount of agents at CB Oak Lawn
139
This program specifically lists cosmetic, health & safety, and livability repairs while excluding luxury improvements.
VA Renovation
A borrower earns $10,000 gross per month and has $4,000 in qualifying monthly debt obligations including the new mortgage payment. What is the DTI?
40%
Court Issued Document that prevents an individual from purchasing a specific property
Permanent Injunction
Open House Kits include the following:
Paper Towel, Toilet Tissue, Footies, Candle, Mints, Pen, Clorox Wipes
FHA Standard 203(k) gives borrowers this amount of time from settlement to complete repairs.
6 months
A seller offers a concession that is used to temporarily reduce the buyer's mortgage rate. What is this commonly called?
Temporary Rate Buy Down
For HomeGrown Grant, this is the final phase of research that looks into City Debts
Scofflaw Check
LOAN OFFICER TO RECOMMEND FOR YOUR CLIENTS
NATASHA ROBINSON