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west liberty, OHIO Rehab and FHA 203k Loans

 

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If you are looking to purchase a home in  west liberty, Ohio that needs work (or own a home that could be updated, repaired or improved), Tim Bradford and the Team of People at American Midwest Mortgage are the people you want working for you on your west liberty Rehab Mortgage or west liberty 203k Mortgage.   Presented here is basic information about Rehab Loans.  You may also wish to visit www.Ohio203K.com for additional information.   We are one of the leading originators of Rehab Loans in Ohio and would like to assist you with your  west liberty, Ohio Rehab Mortgage.  As a leader in 203K loans we offer the full 203k as well as the streamline 203k in  west liberty, Ohio. 

 

The FHA 203K Loan is a program that allows an Owner Occupying borrower to Purchase (or refinance) a home in  west liberty Ohio and take out just one mortgage loan to finance both the acquisition and the rehabilitation and/or improvement of the property.  The 203K loan is also an excellent way to improve, repair or update the home, as well as meet any  west liberty Ohio  Building Codes, Violations or  west liberty Point of Sale Requirements.  Maximum financing is available for One-to four-family dwelling properties (including condominiums) that have been completed for at least one year. Homes can be demolished or razed, provided some of the existing foundation system is in place.   The possibilities are almost limitless of what you can do. 


"Doing Good things for Good People"
Is our goal,  as you look back you will say it was an enjoyable experience to have worked with Tim Bradford
and the other experienced professionals at American Midwest Mortgage.
Let us assist you with your west liberty Ohio Mortgage Questions.  

 

Please visit www.Ohio203K.com for additional information or call Tim Bradford to discuss your options.

 

 

With any Purchase or Refinance being Pre Approved is generally the First Step.  With a FHA 203k Loan this is important because you need to know your loan  limits, because it includes the cost of the  west liberty Home as well as the cost of the Renovations and Improvements. 


Here are some of the Basic guidelines for your west liberty Ohio Renovation Plans

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203(k) Eligible Improvements per the US Department of HUD
 

A. Structural alterations and reconstruction (e.g., repair or replacement of structural damage, chimney repair, additions to the structure, installation of an additional bath(s), skylights, finished attics and/or basements, repair of termite damage and the treatment against termites or other insect infestation, etc.).

B. Changes for improved functions and modernization (e.g., remodeled bathrooms and kitchens, including permanently installed appliances, i.e., built-in range and/or oven, range hood, microwave, dishwasher).

C. Elimination of health and safety hazards (including the resolution of defective paint surfaces or lead-based paint problems on homes built prior to 1978).

D. Changes for aesthetic appeal and elimination of obsolescence (e.g., new exterior siding, adding a second story to the home, covered porch, stair railings, attached carport).

E. Reconditioning or replacement of plumbing (including connecting to public water and/or sewer system), heating, air conditioning and electrical systems. Installation of new plumbing fixtures is acceptable, including interior whirlpool bathtubs.

F. Installation of well and/or septic system. The well or septic system must be installed or repaired prior to beginning any other repairs to the property. A property less than 1/2 acre with a separate well or septic system is not acceptable; also, a property less than 1 acre with both a well and a septic system is unacceptable. Lots smaller than these sizes, usually have problems in the future; however, the local HUD Field Office can approve smaller lot size requirements where the local health authority can justify smaller lots. The installation of a new well or the repair of an existing well (used for the primary water source to the property) can be allowed provided there is adequate documentation to show there is reason to believe the well will produce a sufficient amount of potable water for the occupants. (A well log of surrounding properties from the local health authority is acceptable documentation.) Refer to HUD Handbook 4910.1, Appendix K, for additional information.

G. Roofing, gutters and downspouts.

H. Flooring, tiling and carpeting.

I. Energy conservation improvements (e.g., new double pane windows, steel insulated exterior doors, insulation, solar domestic hot water systems, caulking and weather stripping, etc.).

J. Major landscape work and site improvement (e.g., patios, decks and terraces that improve the value of the property equal to the dollar amount spent on the improvements or required to preserve the property from erosion). The correction of grading and drainage problems is also acceptable. Tree removal is acceptable if the tree is a safety hazard to the property. Repair of existing walks and driveway is acceptable if it may affect the safety of the property. (Fencing, new walks and driveways, and general landscape work (i.e., trees, shrubs, seeding or sod) cannot be in the first $5000 requirement.)

K. Improvements for accessibility to a disabled person (e.g., remodeling kitchens and baths for wheelchair access, lowering kitchen cabinets, installing wider doors and exterior ramps, etc.). Related fixtures such as new cooking ranges, refrigerators, and other appurtenances, as well as general painting are also eligible; however, it must be in addition to the $5,000 requirement.

 

"Doing Good things for Good People"
Is our goal,  as you look back you will say it was an enjoyable experience to have worked with Tim Bradford
and the other experienced professionals at American Midwest Mortgage.
Let us assist you with your west liberty Ohio Mortgage Questions.  

Tim Bradford as an Employee of American Midwest Mortgage Corp-- OHIO MB.803389/LO.007173 ---- NMLS CO.142066/LO.250013
 

Tim Bradford -- OHIO MB.803389/LO.007173 ---- NMLS CO.142066/LO.250013
6363 York Road #300, Parma Heights, Ohio 44130

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Also Serving These Cities in Cuyahoga County:
Beachwood, Bedford, Bedford Heights, Berea, Bratenahl, Brecksville, Broadview Heights, Brooklyn, Brooklyn Heights, Brook Park, Chagrin Falls, Cleveland Heights, East Cleveland, Euclid, Fairview Park, Garfield Heights, Gates Mills, Highland Heights, Highland Hills, Independence, Lakewood, Lyndhurst, Maple Heights, Mayfield, Mayfield Heights, Middleburg Heights, Moreland Hills, Newburgh Heights, North Olmsted, North Royalton, Olmsted Falls, Orange, Parma, Parma Heights, Pepper Pike, Richmond Heights, Rocky River, Seven Hills, Shaker Heights, Solon, South Euclid, Strongsville, University Heights, Valley View, Walton Hills, Warrensville Heights, Westlake
west liberty Ohio
Reverse Mortgages
west liberty Ohio
1st Time Buyers
west liberty Ohio
USDA Rural Home
west liberty Ohio
Veteran Loans
west liberty Ohio
OHFA Loans

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