Comments for Smart Loans http://www.smartloans.com Just another WordPress site Fri, 01 Jul 2011 19:33:58 +0000 hourly 1 http://wordpress.org/?v=3.3.1 Comment on Rehab Construction Loans by Paul Welden http://www.smartloans.com/rehab-construction-loans-revitalize-neighborhoods/#comment-8 Paul Welden Fri, 01 Jul 2011 19:33:58 +0000 http://www.protect.com/?p=1177#comment-8 Thank you for posting information regarding the FHA 203k Renovation Loan. However, some of the information posted is incorrect and incomplete. There are 2 versions of the 203k : Standard/Full and Streamline. Standard/Full requires min $5K in rehab but is NOT limited to $35K. The actual rehab limit for the Standard/Full 203k version can be as high as $1.4Million, but is dependent on not exceeding the lesser of the FHA max mortgage limit for the area, as is value + cost of rehab, 110% of improved appraised value or what the borrower is actually qualified for. The Streamline 203k has a $0 min rehab amount but is limited to max $35K in rehab (see Mortgagee Letter 05-50). Also, the renovation work should be completed by a contractor knowledgeable with the 203k, such as a Certified 203k Contractor. The national Certified 203k Contractor Directory is located online at http://203kContractors.com. Thank you for posting information regarding the FHA 203k Renovation Loan. However, some of the information posted is incorrect and incomplete.
There are 2 versions of the 203k : Standard/Full and Streamline.

Standard/Full requires min $5K in rehab but is NOT limited to $35K. The actual rehab limit for the Standard/Full 203k version can be as high as $1.4Million, but is dependent on not exceeding the lesser of the FHA max mortgage limit for the area, as is value + cost of rehab, 110% of improved appraised value or what the borrower is actually qualified for.

The Streamline 203k has a $0 min rehab amount but is limited to max $35K in rehab (see Mortgagee Letter 05-50).

Also, the renovation work should be completed by a contractor knowledgeable with the 203k, such as a Certified 203k Contractor. The national Certified 203k Contractor Directory is located online at http://203kContractors.com.

]]> Comment on Home Ownership in the U.S. by Bill Shander http://www.smartloans.com/home-ownership-in-the-u-s-infographic/#comment-7 Bill Shander Tue, 24 May 2011 01:02:24 +0000 http://www.protect.com/?p=623#comment-7 This info graphic is very misleading. You show the lowes/highest taxes in dollars rather than rates so the areas with the lowest property values will have the lowest numbers, etc. And you show the number of homes per sale as raw counts so the states with high populations have the highest numbers, etc. The data story is far more interesting than this - I only wish I could see it. This info graphic is very misleading. You show the lowes/highest taxes in dollars rather than rates so the areas with the lowest property values will have the lowest numbers, etc. And you show the number of homes per sale as raw counts so the states with high populations have the highest numbers, etc. The data story is far more interesting than this – I only wish I could see it.

]]> Comment on Home Ownership in the U.S. by djohnson http://www.smartloans.com/home-ownership-in-the-u-s-infographic/#comment-6 djohnson Thu, 19 May 2011 16:50:02 +0000 http://www.protect.com/?p=623#comment-6 Also we now have code up for the infographic if you'd like to use that. Also we now have code up for the infographic if you’d like to use that.

]]> Comment on Home Ownership in the U.S. by djohnson http://www.smartloans.com/home-ownership-in-the-u-s-infographic/#comment-5 djohnson Thu, 19 May 2011 15:58:50 +0000 http://www.protect.com/?p=623#comment-5 Hi Mark- Yeah go ahead and post it to your blog but just make sure to link back to our site with it. Hi Mark- Yeah go ahead and post it to your blog but just make sure to link back to our site with it.

]]> Comment on Home Ownership in the U.S. by mindcheese » Home Ownership in the US http://www.smartloans.com/home-ownership-in-the-u-s-infographic/#comment-4 mindcheese » Home Ownership in the US Tue, 17 May 2011 06:48:33 +0000 http://www.protect.com/?p=623#comment-4 [...] furnishes code to embed the infographic on their page: Home Ownership in the US Infographic. The image does not provide any sources for their [...] [...] furnishes code to embed the infographic on their page: Home Ownership in the US Infographic. The image does not provide any sources for their [...]

]]> Comment on Home Ownership in the U.S. by Mark Brian http://www.smartloans.com/home-ownership-in-the-u-s-infographic/#comment-3 Mark Brian Mon, 16 May 2011 13:30:26 +0000 http://www.protect.com/?p=623#comment-3 That is one very interesting chart! Of course buyers need to be aware that real estate conditions vary greatly from area to are within one state. I would really like to use part of this graphic on my blog with a link to this article if that is OK with you? Please let me know, I would rather ask permission than beg for forgiveness.... That is one very interesting chart! Of course buyers need to be aware that real estate conditions vary greatly from area to are within one state. I would really like to use part of this graphic on my blog with a link to this article if that is OK with you? Please let me know, I would rather ask permission than beg for forgiveness….

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