Loan Solutions

The Brokers at Jordan Boswell Real Estate Investment can provide guidance and assistance in the obtaining of the following specific loans:

SBA Loan:  The CDC/504 loan program is a long-term financing tool, designed to encourage economic development within a community. The 504 Program accomplishes this by providing small businesses with long-term, fixed-rate financing to acquire major fixed assets for expansion or modernization.

Proceeds from 504 loans must be used for fixed asset projects, such as:

• The purchase of land, including existing buildings
• The purchase of improvements, including grading, street improvements, utilities, parking lots and landscaping
• The construction of new facilities or modernizing, renovating or converting existing facilities
• The purchase of long-term machinery and equipment
• The 504 Program cannot be used for working capital or inventory, consolidating or repaying debt, or refinancing.

FHA Rehabilitation Loan Programs (203k):  The FHA 203(k) Regular loan is a fully disbursed loan which allows a borrower to purchase or refinance a property and finance the cost of rehabilitation with one loan. Because it is fully disbursed at closing, the 203(k) loan can be insured by HUD as soon as the loan closes. The mortgage amount for these loans is based on the projected value of the property with the work completed, taking into account the cost of the renovation. The FHA 203 (k) Streamline loan is intended to facilitate uncomplicated rehabilitation and/or improvements to a home which plans, consultants, engineers and/or architects are not required. Prospective buyers can finance the cost of the improvements (up to $35,000) in to the purchase transaction. Current home owners can even refinance with this program and complete minor repairs or improvements.

Energy Efficient Mortgage (EEM):  A new homebuyer or current homeowner, may be able to use this FHA loan to finance the cost of many energy efficient improvements. The program allows the homebuyer to finance the purchase of a home or refinance a current mortgage and include the cost of the energy saving, cost efficient improvements through a single mortgage. The EEM program recognizes the monthly utility cost savings when homebuyers make energy efficient improvements. Borrowers may use the EEM program to finance the cost of energy efficient improvements into their new mortgages without the need to qualify for additional financing because cost effective energy improvements result in lower utility bill making more funds available for their mortgage payments. (Examples: heating and cooling systems, insulation, weatherization and window replacement)