IMG_20190508_120104656.jpg  believes that part of running a successful business, is giving back to the communities in which we do business.  In light of this philosophy, we provide a number of services we believe help to improve the community in various ways.  We offer knowledge and help with the process of applying for the FHA 203k renovation and purchase loan, which is a loan that allows a renter to renovate a house (using contractors), and then purchase the home after the renovation.  We think this is a huge improvement to the community, as it fosters pride in home ownership, brings up property values in the neighborhood, and also provides an example for others to see and then decide to do the same thing for themselves.  We also do fundraising for other neighborhood improvements such as buying the land and equipment for parks.  An excellent way to provide for the well-being of our children, and improve the look and feel of the neighborhood.  We also raise funds for community gardens, which is a great way to grow food for consumption, or to sell at a local farm market or roadside stand.  Plus it gets folks in the neighborhood outdoors, doing an activity which is good exercise and enjoyable, and re-connecting with their neighbors.  And occasionally, we have BBQ fundraisers, which always brings folks together for good food and fun. 


  Acquiring a FHA 203k loan requires certain FICO score ranges, which determines whether or not the applicant will be allowed a 3.5% or 10% down payment.  Those with a FICO score range between 500 – 580/600* will need a 10% down payment.  Those with a FICO score of 580/600* and above will need a 3.5% down payment.  Those who can qualify for either of these down payments, will work through the process and receive a loan for the renovation of one of a number of distressed houses in the community which we will show to them.  We are hoping to use this program to renovate the distressed houses in the community and raise the property values on the whole as well.


Eligible Rehabilitation Activities

According to the US Department of Housing and Urban Development, the types of rehabilitation that borrowers may do using FHA 203k financing include:

    Structural alterations and reconstruction
    Modernization and improvements to the home's function
    Elimination of health and safety hazards
    Changes that improve appearance and eliminate obsolescence
    Reconditioning or replacing plumbing; installing a well and/or septic system
    Adding or replacing roofing, gutters, and downspouts
    Adding or replacing floors and/or floor treatments
    Major landscape work and site improvements
    Enhancing accessibility for a disabled person
    Making energy conservation improvements

  HUD also requires that properties financed under this program meet certain basic energy efficiency and structural standards.

   If it is determined that the applicant cannot qualify for a loan because of a low FICO score, we will work with them using an FHA credit specialist to get their FICO score up to the level necessary for qualification.  When it is determined that they are at the point where they will qualify for a loan, we will help them find a distressed house, and provide the qualified contractor(s) to renovate the chosen home.  We hope to be able to help anyone capable of qualifying for a 203k loan, to do so and become proud homeowners.

K.F.(Jack) Griffin

P.S. – To further build up the sense of community, we will be looking at establishing community gardens, and raising money for park land/equipment for the children.

* – Each lender has the choice of determining the FICO score ranges they will use.


   Thanks for taking the time to look over our 203k program, and the site itself.  We look forward to doing business with you.

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