Comments on: 203K loans waiting for you! http://www.silvertreeconstruction.com/remodel/203k-loans-waiting-for-you.html?utm_source=rss&utm_medium=rss&utm_campaign=203k-loans-waiting-for-you Home remodeling for your lifestyle. Mon, 27 Dec 2010 08:51:59 +0000 hourly 1 By: 203K home loans for Minnesota! | 203k Consulting MN http://www.silvertreeconstruction.com/remodel/203k-loans-waiting-for-you.html/comment-page-1#comment-4459 203K home loans for Minnesota! | 203k Consulting MN Wed, 24 Mar 2010 22:39:21 +0000 http://www.silvertreeconstruction.com/articles/?p=183#comment-4459 [...] 203K loans waiting for you! [...] [...] 203K loans waiting for you! [...]

]]> By: Dax Dickson http://www.silvertreeconstruction.com/remodel/203k-loans-waiting-for-you.html/comment-page-1#comment-3130 Dax Dickson Sun, 11 Oct 2009 20:55:26 +0000 http://www.silvertreeconstruction.com/articles/?p=183#comment-3130 The FHA 203K loan is a great product for home owners buying or repairing their homes in Minnesota! However, many people do not know that there are similiar commercial loan products for investors. This is how it works: - Purchase Rehab Rent (PRR) * Purchase Cost + Rehab Construction Cost = X Loan amount is 80% of X * Once construction is complete, inspected and property is rented up to 50% of down payment can be refunded * Minimum FICO score 660 * Debt Service Coverage must be 1.25 or greater - Purchase Rehab Sale (PRS) * Purchase Cost + Rehab Construction Cost = X Loan amount is 80% of X * Maximum of three construction project at a time for new borrowers * Minimum FICO score 660 * 45% Debt to Income (DTI) using your AGI If ever your construction company runs into investors in the Twin Cities that want to take advantage of this great investor market give me a call. Dax Dickson 612-578-9898 The FHA 203K loan is a great product for home owners buying or repairing their homes in Minnesota!

However, many people do not know that there are similiar commercial loan products for investors.

This is how it works:

- Purchase Rehab Rent (PRR)
* Purchase Cost + Rehab Construction Cost = X
Loan amount is 80% of X
* Once construction is complete, inspected and property is rented up to 50% of down payment can be refunded
* Minimum FICO score 660
* Debt Service Coverage must be 1.25 or greater

- Purchase Rehab Sale (PRS)
* Purchase Cost + Rehab Construction Cost = X
Loan amount is 80% of X
* Maximum of three construction project at a time for new borrowers
* Minimum FICO score 660
* 45% Debt to Income (DTI) using your AGI

If ever your construction company runs into investors in the Twin Cities that want to take advantage of this great investor market give me a call.

Dax Dickson
612-578-9898

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