A borrower can rehab an investment property with the FHA 203k loan by purchasing and renovating a multifamily (2-4 unit) property. The borrower must then reside in one of the units as his or her primary residence for at least a year to satisfy FHA’s permanent residence requirement before renting out the property. What if a Borrower Already Owns a Home? If a person has already purchased a home, he or she can refinance his or her current mortgage using the FHA 203k loan. This presents smart … [Read more...]
Your Guide to Raw Land Purchase Agreements in Illinois
Raw land purchase agreements feature a few basic provisions, including purchase price, due diligence period, final closing conditions, and default… READ MORE
