Tuesday, June 3, 2008

Lake Norman Real Estate: Attention Lake Norman and Charlotte Area First Time Homebuyers, This Loan is FANTASTIC!

First Time Homebuyer Renovation Loan!

Are you a first time home buyer or trying to help a family member buy a home? I have good news for you. I have partnered with a great friend to me and my clients and a terrific mortgage professional on a new program based around a loan called 203(k)!

Welcome to the world of Renovation Loans.
There are only a couple of companies offering these loans in the Charlotte and Lake Norman area. Your Lake Norman and Charlotte area agent and Sherry Bradley with Fidelity & Trust are happy and proud to offer this to our clients. A 203(k) is FHA(s) rehabilitation Mortgage Loan. With this loan a borrower can purchase or refinance a home and include additional money for repairs and renovations.

NOTE: This is NOT an investor loan because FHA requires the home be owner/occupied. However, assisting a family member can be considered under certain circumstances. What can a buyer or seller do with a 203(k) loan:

Example of repairs:

-Replace roof
-Room addition
-Add a garage
-New Carpet Repair
-termite or moisture damage
-And more…

Types of Properties:

-Single Family 2-4 Units
-Mixed use (commercial and residential in one building)
-Manufactured Loans (YES manufactured homes, NO singlewides)

We can also provide information on real advantages of this loan and process as well as the two types of 203(k), streamlined and full.

Please contact your Lake Norman and Charlotte Agent at 704 315 8106 or Sherry Bradley at 704 617 9686 to get a full explanation and begin your search.

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Jeremy Adair
Real Living - Davidson, NC
Cell: 704.315.8106
Fax: 704.892.9766

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