FHA 203k Loan Information

FHA home loans, which are insured by the Federal Housing Administration (FHA), are great financing options for any homeowner who wants to purchase a house or refinance his or her current mortgage. These loans have low interest rates and usually only require down payments of 3.5 percent! FHA loan requirements are simple, so current and potential homeowners are more likely to qualify for these loans than other types of loans.

FHA 203k Rehabilitation Mortgage Insurance Program

The FHA has a specific loan program to help homeowners who want to make improvements or repairs on their home, but do not have the funds to do so. These loans are called FHA 203k loans and can be used for either a purchase or a refinance. There are two types of loans in this program, one loan is for repairs that cost less than $30,000 and the other loan is for repairs that cost more than $30,000.

A streamline FHA 203k option is also available to homeowners who are interested in doing non-structural repairs or improvements. This loan requires less documentation and can be less costly. It allows a homeowner to finance up to an additional $35,000 into his or her mortgage in order to make improvements to the home. An FHA home inspector or appraiser can identify home repairs that need to be made.

How the Loan Can Be Used

Although there are some restrictions on what the loan can be used for, there are plenty of renovations and home repairs that the loan does cover. In general, these include modernization, eliminating safety or health hazards, making a home more accessible for individuals with disabilities, or making a home more energy efficient. More specifically, the loan can be used for roofing, plumbing, flooring, painting, minor remodeling and more.

Loan Requirements

There are certain requirements with this type of financing. Homeowners must spend at least $5000 on their home repairs in order to be eligible. Homeowners must get cost estimates from a licensed and insured contractor(s) before signing the sales contract. The total cost of the mortgage, including the repairs, must remain within the FHA loan limits for the county in which the home is located.

This loan cannot be used to flip houses, and the homeowner must use the loan on the home in which he or she lives. The work being done on the house must begin within 30 days of the loan closing. All work must be completed within six months to comply with the loan requirements.

If a homeowner wants to make repairs to his or her home and needs additional financing, this type of financing could be the best option. Many of the same eligibility standards used for standard FHA home loans apply to the FHA 203k loan. Most lenders will require that the borrower have a credit score of at least 620 to be eligible. To qualify for the loan, certain energy efficiency standards, as well as certain structural standards, must be met.

This loan could be great solution for homeowners who want a better way to finance home repairs and improvements without depleting their savings.

Christmas Yard Ornaments For A Beautiful Home

One of the great joys of the holiday season is being able to decorate your home. Nothing too earth shaking about that, people have been decorating the insides of their home forever. But the decorating trend that has really taken off in the last few years is that of using Christmas yard ornaments to decorate the outside of your home.

Lots of people string lights up on their eaves or decorate the trees and bushes and even cactus in front of their homes. But more and more these days, folks are finding out how much fun it is to put up some beautiful large sized ornaments on the ground in front to their houses.

The internet has made it really easy to find lots of places where you can buy Christmas yard decorations for great discount prices. In fact some of the best bargains of the year come in the form of shipping discounts and package deals on the internet Christmas websites. That is if you find a group of Xmas yard decorations you can often bundle them up into a multi unit package that you can strike a good bargain with when its time to check out online.

There are lots of different styles of ornaments you can get in sizes big enough to show up in your yard. As a matter of fact, most of the decorations you can get for your tree can be found in a form that allows you to do part of your decorating outside.

The favorite ornaments, usually are the ones that are round and have stripes painted on them in bright colors. And Christmas colors of red and green are among the absolute favorites. Of course, there are a lot more colors that are considered to be appropriate for decorating for Christmas and you can find these represented in the outdoor decorations as well.

Some of the colors show up well outside in the yard and some don’t show up so well. Yellow, even though it is often used as an accent color for Christmas decorations does not show up so well outside in the daytime in the sunlight when it is used as the main color for a large outdoor Christmas ornament.

But a royal purple shows up really well during the day, and if you your house arranged with some spotlights shining on your ornament display at night, the purple looks great then too.

The holidays are wonderful time to show off your decorating skills outside your home and Christmas yard ornaments are a fabulous way to make your home seem the Christmas house.

Non Homeowner Loans – Great Financial Partner in Crisis

Are you staying as a tenant? Do not own any asset against your name? Have important financial needs to deal with? Facing financial crisis trouble? Worried with being a non-homeowner? Relax! Gone are the days when only those people can access loan who can pledge collateral against the loan. Now, with growing financial market there are many fruitful provisions are available for non-homeowner. At crisis times, you can rely on the most wonderful financial option of non-homeowner loans. These loans offer you great fiscal support without asking for any collateral against the loan. Thus, you can easily fulfill your needs without any obstacle.

These kinds of Loans For Non Homeowners are especially designed for those non-homeowners who are unable to pledge any collateral against the loan. Now there will be no more worries for a non homeowner to avail a loan help. So, whenever you feel that you do not have adequate finance to satisfy your needs, then non-homeowner loans are best loan application for you.

The non homeowner loans is a kind of unsecured loans and thus do not demand any collateral. Under these loans you can avail finance in between £1,000 to £25,000 for the time period of 1 to 10 years.

To reduce the risk of the lender, you may charge slightly higher rate of interests due to lack of collateral. However, to find an affordable deal you need to search out a proper online financial market and compare all loan quotes by different lenders well.

The amount availed through non-homeowner loans can be used for any of the purpose such as:

– Pay off your previous debts
– Pay off home rent
– Education fee
– Go for exotic vacation etc.

Even if you have blemished credit score, you do not have to hesitate. The bad credit records like arrears, defaults, insolvency etc; are acceptable under loans for non homeowners. So all bad credit holders are eligible to apply and access funds for their needs.