What is a Michigan 203K loan with John Leach

Описание: Dave: This week we had a special guest John leach branch manager of Mortgage 1 lakeside office John is our 203k specialist. John a lot of people don't know what a 203k loan is can you tell them a little bit about what that is?

John: Sure a 203k loan and is a rehabilitation loan that's insured by HUD. It allows borrowers to roll in repair cost into their mortgage rather than purchasing a home and having to come up with all that money out of their own pocket after closing to do repairs to a property.

John D Leach | Residential Lending Specialist
Mortgage 1 | Lakeside Branch
13486 Canal Road | Sterling Heights, MI 48313
tel (586) 924-9102 | fax (586) 601-1905
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Servicing the Community for Over Two Decades
NMLS: #136080 | Company NMLS #129386




Mortgage 1 NMLS #129386 www.NMLSConsumerAccess.org, Equal Housing Lender. Mortgage 1 Inc. is licensed in Michigan, Ohio #MB-804110.000, Florida #MLD282, and Texas. 43456 Mound Road Sterling Heights MI 48314. (1-866-532-0550)

This is not a commitment to lend. Restrictions apply. All Rights Reserved. Mortgage 1 Inc. is not acting on behalf of or at the direction of FHA or the federal government. Mortgage 1 Inc. NMLS# 129386 is not affiliated with your current lender. Minimum and maximum loan amounts apply. All approvals are subject to underwriting guidelines.

Mortgage 1, incorporated is an Equal Housing Lender. As prohibited by federal law, we do not engage in business practices that discriminate on the basis of race, color, religion, national origin, sex, marital status, age (provided you have the capacity to enter into a binding contract), because all or part of your income may be derived from any public assistance program, or because you have, in good faith, exercised any right under the Consumer Credit Protection Act. The federal agency that administers our compliance with these federal laws is the Consumer Financial Protection Bureau P.O. Box 4503 Iowa City IA 52244 Equal housing lender