1. The Differences Give you power 203k and Fannie Mae HomeStyle

2. The Difference between FHA 203k and Fannie Mae HomeStyle

3. The Difference between FHA 203k and Fannie Mae HomeStyle FHA 203k Loans FHA Insured (MIP/PMI) Must be owner occupied FICO Score 640 Downpayment as low as 3.5% FHA Loan Limitations by area Maximum 417,000 loan Condo must be on approved list Two types Streamlined and Full 203k Cannot be used for luxury items

4. The Difference between FHA 203k and Fannie Mae HomeStyle Fannie Mae HomeStyle Conventional Mortgage Investor/multiple homes FICO Score 660 Downpayment as low as 5%- usually higher No Maximum Loan Limit High Balance Loans ($800 K) Condo, any type of property- no pre-approval Unfinished new construction Can be used for luxury items- pool, outdoor kitchen No minimum property standard requirements

5. The Difference between FHA 203k and Fannie Mae HomeStyle Fannie Mae HomeStyle Conventional Mortgage Investor/multiple homes FICO Score 660 Downpayment as low as 5%- usually higher No Maximum Loan Limit High Balance Loans ($800 K) Condo, any type of property- no pre-approval Unfinished new construction Can be used for luxury items- pool, outdoor kitchen FHA 203k Loans FHA Insured (MIP/PMI) Must be owner occupied FICO Score 640 Downpayment as low as 3.5% FHA Loan Limitations by area Maximum 417,000 loan Condo must be on approved list Two types Streamlined and Full 203k Cannot be used for luxury items

6. FHA 203k Inspections The standard mortgage limits for FHA insured loans in our area All Six Counties – (Bucks, Berks, Chester, Delaware, Montgomery and Philadelphia): One-family Two-family Three-family Four-family $420,000 $537,650 $649,900$807,700 (As of 12/05/2011 FHA Report)

7. FHA 203k Inspections 203(k) Repairs/Improvements Must be at least $5,000 FHA Consultant Required Architectural Exhibits required (if necessary) NO upfront funds to contractor FULL 203(k) VS. 203(k) Streamline 203(k) Streamline Repairs only up to $35,000 Only for uncomplicated repairs/improvements No Consultant required No Architect required Borrower/contractor can receive up to 50% start up costs

8. The Difference between FHA 203k and Fannie Mae HomeStyle FHA 203k Inspections The Best Way to Start… Help your buyer understand the possibilities in all homes (Educational Presentation) Use a home inspector who is also a certified 203k Consultant Renegotiate based on repair needs that fail FHA minimum property standards

9. The Difference between FHA 203k and Fannie Mae HomeStyle Customized Online Reports /Digital Photos 203k Inspectors FREE FREE 30 day Home Inspection Program Estimated Life Expectancy/Replacement Cost Guide 24 Hour Scheduling (Office hours 8 am- 10 pm) FREE 90-day Home and Termite Warranty E & O Coverage for Referring Agents FREE FREE Appliance Recall Checks CEU Training Classes for Agents (4-20 hrs of training) Why Use Value Home Inspections …

10. The Difference between FHA 203k and Fannie Mae HomeStyle And our newest feature… FHA Compliance Inspections For Your Sellers

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12. The Difference between FHA 203k and Fannie Mae HomeStyle

13. The Difference between FHA 203k and Fannie Mae HomeStyle