FHA Purchase & Renovation Program 203K

FHA has a little known program that was primarily associated with HUD homes but is also available for 1-4 family dwellings. This program can be used to finance the initial purchase and repair or improve the property in one loan. It's called the FHA 203K loan program and it can be used to repair property that you are interested in purchasing all in 1 loan providing that you will use credentialed contractors, it can even include cosmetic improvements as well as major renovation. There is a minimum of $5000 in repairs or improvements and can be used for mixed use residential/commercial properties if eligible. Even a burnt out shell, incomplete shell or empty foundation may be eligible for 203K financing provided it is over a year old.
FHA will lend up to 98.15% of the future value of the dwelling after all completed repairs as long as you do not exceed the maximum FHA loan limit for the area of the properties location.
With this program you can purchase that home you looked at but were discouraged in buying because it needed too much TLC and you couldn't afford the cost of repair out of pocket, or the seller couldn't or wouldn't fix the problems. With this program those problems can be fixed and financed all in 1 loan.
Call or e-mail Larry or Jo Ann Thomas and ask about this fantastic program at 628-2903 or 545-9249 or
larrythomasbrep@msn.com

!!! BILLINGS IS NUMBER 1 IN THE NATION !!!

BILLINGS now is ranked Number 1 in the Entire Country for expected Real Estate Price Appreciation !
Several months ago I commented that Billings was ranked no. 3 from Housing Predictor.com ( a web site that forecasts the real estate market nationally). Now they have increased Billings ranking up to Number 1 ! This is number 1 from 250 cities surveyed across the entire country ! The survey researches 20 different factors to arrive at their conclusions. Billings strong job market and overall good economic outlook were major factors in their predictions.
With the recent mortgage rate announcement from Freddie Mac, that 30 year mortgage rates are the lowest they have been since they started keeping records in 1971, can anyone question that NOW is the time, and the Billings market is the place to Buy or Sell Real Estate. Add to this, the new $8000.00 tax credit for 1st time homebuyers and you have many reasons to Buy or Sell NOW.
So if you have been sitting on the fence, wondering if this is the right time, wonder no more!
The time to BUY or SELL is NOW.
Call or e-mail Larry or Jo Ann Thomas today, to get your real estate transaction moving forward NOW.
Call...(406)628-2903 or (406)545-9249
E-mail... larrythomasbrep@msn.com or JoAThomasBREP@q.com

$8,000 First-Time Homebuyers Tax Rebate

What is a first-time homebuyer? A person who hasn't owned a home within the last 3 years or wants to purchase a home and owns a mobile on a rented lot.

If you do not have the downpayment and closing costs, contact us on how to use the $8,000 tax credit toward these costs.

Roger Johnston, Broker/Owner Billings Real Estate Professionals 248-4409