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3-n-1 Financing

3-n-1 Financing. Purchase Remodel Make Energy Efficient. 3-n-1 Financing. Viewing Instructions: Proceed at your own pace Click on screen to advance text . Qualifications. Property One to Four Residential Units. Property contains at least a foundation slab. Buyer

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3-n-1 Financing

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  1. 3-n-1 Financing Purchase Remodel Make Energy Efficient

  2. 3-n-1 Financing Viewing Instructions: Proceed at your own pace Click on screen to advance text.

  3. Qualifications • Property • One to Four Residential Units. • Property contains at least a foundation slab. • Buyer • Any buyer who qualifies for a FHA loan. • No First Time Buyer Requirement. • Maximum Loan Amount. • $362,790 or local county maximum.

  4. 3-n-1 Step by Step • First, Locate Property. • Contractor estimates cost to improve. • Loan approved for 97% of price and improvements. • FHA Consultant reviews Contractor’s bid for compliance. • Appraisal is ordered.

  5. 3-n-1 Step by Step • All documents are submitted to underwriter for final lender approval. • Loan closed and owner takes possession. • Work begins • Must be completed within 6 months • If home is not habitable, up to 6 months payments can be included in the loan.

  6. Expected Costs • $12 Credit Report • $400 Appraisal • Can vary on based on appraiser’s fee schedule. • $400 - $500 FHA Consultant(included in loan) • Varies depending on number of required inspections • 3% Downpayment • Can be: Cash, Gift or Downpayment Assistance. • Normal Settlement costs • approximately 2 1/2 to 3 percent of loan amount.

  7. Expected Timeline • Week 1: Contractor prepares bid. • Week 2: FHA Consultant review • Week 3: Appraisal completed. • Week 4: Final Underwriting approval. • Week 5: Documents prepared & signed • Week 6: Buyer becomes Owner. .

  8. ExpectedResult Like New Upgraded Energy Efficient Home.

  9. ExpectResults

  10. ExpectResults Questions Always Answered Always Full Disclosure Professionalism Experience. Bill Ladewig FHA Loans for 38 Years 866.204.9733 Bill@YourFhaGuru.com Use Browser “Back” button to end show

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