Conforming 30 Year Fixed (up to $417,000)is at 3.75% at one point and 3.875% at zero points, High Balance ($417,000 to $625,500) is at 3.875% at one point and 4.125% at zero points and Jumbo (over $625,500) at 4.625% at one point.
FHA loans are now available up to $729,750. FHA rates are at 3.75% at zero points below $417,000 and 3.875% at zero points from $417,000 to $729,750.
SELL THE "WORST" HOME IN THE "BEST" NEIGHBORHOOD: Use the money for virtually anything carpet,drapes,appliances,room additions etc. Recieve half of the money at the "close of escrow" and the other half when the repairs are completed Hire a contractor or do the work yourself!! FOLLOW THE EASY 6 STEP PROCESS Buyer locates property. Buyer creates a list improvements and schedules an inspection with a cost FHA approved "cost consultant". Cost Consultant and Buyer prepares contactor bid package to obtain cost estimates. Appraiser visits properties to determine "as is" value and the "improved future value". (The loan amount is based on the "improved" value) Loan funds...escrow closes and funds are disbursed. Construction must begin within 30 days and finish within 180 days
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