Marketplace Home Mortgage: Brian Quigley

The FHA 203K loan has been around since the 1970’s however the reason why you don’t hear about alot of them being done, is either the borrower is aligned with an in-experienced loan officer, who does not want to take on the challenge of additional work and time to close, or you just don’t know about it. And it is amazing, and it is all I do here in the wonderful State of Colorado.

Here is how it works, and you can either do a PURCHASE or REFINANCE with this loan.

You can roll in the comprehensive repairs to be completed by a general contractor and subs into your loan amount. Simple as that.

Integrated remodeling of a room, area, or entire home with multiple jobs being coordinated by one contractor. Want to add a bedroom, bathroom, or any additional square footage, a deck, a new kitchen, can all be rolled into the interest rate, which now is between 4.875%-5.625%. Amazing. LOW! RATES!

So here is an example of a purchase I am working on now. The buyer is purchasing a home with foundation issues, and a bunch of other problems for $290,000

The FHA HUD Consultant estimates the repaired to be around $110,000, so the new loan amount, which has to abide by FHA County Limits, is maxed at $406,250.

The cost per square foot in this particular area of Denver is a little over $210. The property is 2800 sq feet. That will justify an after appraised value of $588,000. WOW!

Even if the buyer wanted to sell the property in six months, he will have an amazing profit of over $180,000!

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Testimonials

He was very professional and knowledgeable

we have closed several loans with Brian. He was very professional and knowledgeable on each. One of our loans had a few problems arise and he was very creative in finding solutions so that w…Read More

Closed purchase loan. Littleton, CO

Thanks for all of your hard work and patience

Brian, Thanks for all of your hard work and patience with me throughout the entire home buying process. You exhibited extreme understanding with my specific situation and helped me improve m…Read More

Jen, Security-Widefield, CO

Thanks a million, Brian!

A true pleasure to work with. Very friendly, polite and knowledgeable. I will do business with him in the future and will gladly refer people his way; Thank a million, Brian!…Read More

Closed purchase loan. Parker, CO
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