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Press clips : Video Clips
1) HUD Homeownership subsidy
2) FNMA Zero-down loans
3) Vouchers Enable Low-Income HomeOwnership
4) Home Ownership: Pipe Dream or a New Reality
5) Daly Plan Pitifully Inadequate
6) May 16 HomeOwnership Debate in San Francisco
7) NAACP Minority HomeOwnership Program
8) Ellis/OMI/Costa Hawkins protections
9)Policy Hurts Immigrants
10)Home Ownership Causes HH Wealth
11)Class War and the Poverty Trap
12) Home Ownership Program for Equity

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 Loan Information ->FHA 0 dp loansFNMA Low programsFNMA Flexible 97FNMA Facts
Purchase money loans Nehemiah DP LoansHUD Special programFHA Fixup/Rehab loanCHFA Loan

C4T: Fixup and Rehab Programs:

FHA S-203(k) PROGRAM


HUD-FHA insures rehabilitation loans for owner-occupants to
(1) finance rehabilitation of an existing property;
(2) finance rehabilitation and refinancing of the outstanding indebtedness of a property;
(3) finance purchase and rehabilitation of a property.


Usage:
* 203(k) can be used with 1-4 family dwellings, condominiums and HUD Homes that require a minimum of $5,000 in repairs.
* 203(k) can be used to bring illegal dwellings into code compliance.
* Mixed use residential/commercial properties are eligible.
* A burnt out shell, incomplete shell or empty foundation is eligible for 203(k) financing provided it is over 1 year old.

Title 1 loans:
The Federal Housing Administration (FHA) makes it easier for consumers to obtain affordable home improvement loans by allowing loans up to $25,000 without any equity in the home.
In other words, the loan can exceed the value of the home.
The Title I program insures loans to finance the light or moderate rehabilitation of properties, as well as the construction of nonresidential buildings on the property.
This program may be used to insure such loans for up to 20 years on either single- or multifamily properties.
The maximum loan amount is $25,000 for improving a single-family home or for improving or building a nonresidential structure.

For improving a multifamily structure, the maximum loan amount is $12,000 per family unit, not to exceed a total of $60,000 for the structure. These are fixed-rate loans.

Eligible borrowers include the owner of the property to be improved, the person leasing the property (provided that the lease will extend at least 6 months beyond the date when the loan must be repaid), or someone purchasing the property under a land installment contract.

Title I loans may be used to finance permanent property improvements that protect or improve the basic livability or utility of the property--including manufactured homes, single-family and multifamily homes, nonresidential structures, and the preservation of historic homes.
The loans can also be used for fire safety equipment.


 


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