Loan Program Highlight

FHA 203(k) Streamline

Take advantage of FHA’s mini rehab financing opportunities! Another amazing product that Mortgage Advisory Group offers to help borrowers make their dreams a reality. We are excited to share that homeowners can borrower against the value of their home AFTER improvements using funds to help “update” their home. The FHA 203(k) Streamline can be used with HUD REO properties and include 100% of Energy Efficient packages.

Highlights include:

• No minimum repair amount
• Borrowers can pick their contractors
• Use a MAG preferred FHA approved consultant to make the process easier and faster
• 2 draws – 50% of estimated repairs at closing and final draw once all work is complete and inspected
• Maximum $35,000 repair which includes a 10% contingency reserve, title update, final inspection and the supplemental origination fee.
• Simple minor repairs including: carpets, floors, plumbing, painting, desks and much much more!
• Fast turn times and experienced underwriting

Make a no obligation appointment to talk with one of our Mortgage Professional today. At Mortgage Advisory Group your future is our focus.

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Tips For Hiring the Right Contractor

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