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Rehab loans offer real opportunity. And our extensive suite of four “Rehabtastic” programs is one more way TMS can help you expand your ability to offer more loans. As leading investors in the industry, TMS:
- has experience with VA Alterations and Repairs, USDA OTC/CTP and USDA Pilot, and 203k (standard or limited)
- offers that high-level of expertise rehab loans require
- makes it easy for lenders to submit—we don’t have requirements outside of what the agency asks for
- allows flexibility in draw management on some products; if lender chooses to handle, they can
VA ALTERATIONS
AND REPAIRS
Allows Lenders to make VA-guaranteed loans to Veterans who wish to purchase or refi a home that needs alteration and/or repair.
USDA CTP and
USDA CTP Pilot
This single-close loan combines the features of a construction loan and the traditional long-term permanent residential mortgage.
FANNIE MAE
HOMESTYLE
Enables a borrower to purchase a property or refi an existing loan to finance improvements, renovations or repairs to a home at the time of purchase or as a refi transaction—up to 75% of the as-completed appraised value of the property.
203k
Rehabilitation FHA loans are available in two types: Limited 203k and a Standard 203k, depending on how much borrowers intend to spend on their renovation and any structural work that is required.
The Money Source Inc. is not affiliated with or acting on behalf of or at the direction of HUD/FHA, VA, USDA, or the Federal government