Hi, my name is Brad Schweizer. I am a 203K consultant as well as a renovation consultant. And the 203K renovation program known as a mortgage rehab loan, renovation loan, all of these are loans that are under the Section 203K loan program. It can be used to find both a home purchase, a renovation under a single mortgage. So it allows for home buyers, interested in buying and fixing up their home to roll the calls to both the property and the projects into one loan. Well, how does it work? An FHA 203K loan is backed by the Federal Power Administration. This type of FHA loan provides a way for home buyers, as well as home owners, individuals that have their own property and just want to refinance it and bring it up to marketable conditions. So these are ways that defines can be developed to repair the property or renovate your property to what extent the borne wants to do it. Funds obtained through the FHA loan which can take the form of a 15 or 30 year fixed rate or a just of a rate can be applied to both material and labor costs because these mortgages are ensured by development. Two or three K loans may come with more flexible borrow requirements than conventional loans. Well there's two type of loans. The straight line loan or limited loan is frequently used for homes that require fewer repairs. It allows home buyers or home owners to borrow up to $35,000. And this number is being reviewed and as a draft in place to bring that up to $70,000. But it takes talking with the mortgage professional loan consultant to get the right cost of the requirements and applications may be similar to the process due to lower some bar under the term of this type of loan. Bear in mind that you won't be able to roll major structure of pairs into the sum you wish to borrow. That is under the straight line. You can go under the standard, definitely take two or three K loan. You can go up to whatever's needed. Especially minimum standards. There are minimum requirements that have to be done. And so these are things that have to be addressed as boys getting the operator from market value and to get it into the kind of shape that you want it to be in. With the right kind of curve appeal and various things like that. And if there is an existing swamipool or something that is a luxury item that's there, it's a luxury item that is available in the system. This one of the poor can be repaired if it's already in existence. But other luxury items such as fireplace, fireplace, hot tub, those are invisible upgrades. Certain types of properties may also be getting with the loan officer. Our consultant on market professional will work with you on the terms that as boys, the credit score, the documents that are needed. But I'll focus here on this particular video is the construction aspects of it. We have our loan officers, we have our mortgage companies that work with us as boys getting the money that's needed for a project that you want to use the 203K loan form. And if need be, you can use the conventional. If you already have the money and just need experience and contractors, we can work with you on those arrangements as well. And that's what we are professionals at doing. We've been trained and educated. We've been in a construction industry for the past 40 years, doing renovations, remodeling, historical restoration, tenant improvement for commercial projects. And we'll go through continuing education to make sure that our skills are what is needed for to complete your project. So we are a team we can work with you in any fashion as boys, these projects are concerned. So the bottom line is that whether you're looking for an affordable way to purchase, remodeling or refinational home, an FHA tool through K-Law and can be an excellent option before moving forward with the application process, take time to compare Marcus Nenders research projects. And examine the rules and terms. Consider where the finance and vehicular makes sense for your picture. You can call us at 5-6-2-2-3-4-2689 and we'll be happy to help you with analyzing the 203K program as well as developing your project. Developing your project for a mortgage loan. Again, my name is Fred Sweeter. Thank you for listening to this video and have a nice day. Thank you. you you you