We are pleased to have FHA whiz Otto Kobler on the show this week. Otto has a strong background in government loans and specializes in the FHA 203K “Re-Hab” loans which allow you to add the cost of “improving” your new home into the loan amount. We call this “Re-hab” (NOT to be confused with Charlie Sheen’s home away from home!) and it allows you to make improvements to say, a damaged REO property that has been ransacked, vandalized or damaged by a previous owner or due to long periods of vacancy.
Here’s an interesting “Interest Rate Update”from Otto where he uses a product called “Jing” to demonstrate how to interpret the “moving” bond rate. He makes a very complicated subject much simpler by using a voice over narration.
We also will be discussing the Chdap (California Home Buyers Down Payment Assistance Program) part of CalFHA. Also the EEM mortgages (Energy Efficiency Mortgages) which allow you to include much need energy conversation improvements into your new homes loan.