Blog

Great Training at KW this morning on 203K Program!

The FHA 203K Advantages
Customer Advantages
• Loan may be used as a Purchase or Refinance.
• Customer may have as much or as little
remodeling completed that they desire.
• When using a 203K consultant, the customer
gets added assistance in dealing with a
contractor.
• Customer will know how the repair/remodel
will affect the value of their home.
• Interest on the loan being used for the
remodel may be a tax deduction (see tax
advisor)
Seller Bonuses
• Repairs could make the home more salable.
• New buyer could use the 203K loan to create
their custom dream home.
Buyer Bonuses
• Create a home with all new surfaces, like a
new home.
• Recycles an old home to look new and
refined.
ReFinancing Bonuses
• Update home rather than moving
• Lower Rates
• Finance the cost of improvements over
lender period
Contractor
Advantages
• 203K consultant is available to be a helping
hand for customer relationships.
• Up to 30% available at the beginning of the
job for the purchase of permits and materials.
• Contractor can focus on what they do best
without worrying about financing.
• More jobs!
Real Estate Agent
Advantages
203K Loans are Great for
overcoming objections to a
home’s condition.
• Re-painting the house.
• Replace old carpet that has out dated color.
• Replace old appliances with new and
updated ones.
• Fix or replace old HVAC system or hot water
heater.
Melissa Bachmann,
Sr. Loan Officer
Direct: 972.448.0372 • Cell: 214.535.5653
mbachmann@primelending.com
www.melissabachmann.com
NMLS #: 180426
6136 Frisco Square, Suite 295 • Frisco, TX 75034

Angela Deaton
Sr. Loan Officer
Direct: 469.737.5505 • Cell: 214.738.5874
adeaton@primelending.com
www.angeladeaton.com
NMLS #: 76783

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