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Reduced Underwriting Requirements on FHA 203(K) Rehabilitation: Express and Prime!

Dear Valued Partner,

Good news! Sun West has reduced the 203(K) Rehabilitation loan product overlays on both Prime and Express products, effective immediately.

  • Maximum mortgage amounts up to 110% of the after-improved value
  • Increased types of eligible rehabilitation repairs for borrowers with high credit scores:
    • Structural and Foundation Work
    • Major Additions
    • Utility Replacement and/or Reconditioning
  • Up to 50% material draw upfront for a properly bonded contractor on 203(K) Streamlines

Please note, Sun West's 203K rehab overlays/restrictions apply to both Prime and Express product lines. CLICK HERE to see our updated guidelines for Prime and Express FHA Products.

If you have any questions, please feel free to contact your Account Executive at (800) 453-7884 extension 7699..

Sincerely,

Sun West Mortgage Company, Inc.
18303 Gridley Road
Cerritos, CA, 90703
Phone: (800) 453-7884

Equal Housing OpportunityThis information is provided to licensed wholesale brokers only and may not be copied or distributed to customers or potential customers. All loans are subject to approval. Certain restrictions may apply. Listed pricing is a morning indication only. Program rates, prices, guidelines, fees, costs, terms and conditions are subject to change without notice.

Sun West Mortgage Company, Inc. (NMLS ID 3277) is licensed by the Department of Corporations as a California Finance Lender (License #603 0119) and is licensed by the Department of Real Estate (License #00793885). Refer to www.swmc.com to see where SWMC is a licensed lender. In all states, the principal licensed office of Sun West Mortgage Company, Inc. is 18303 Gridley Road in Cerritos, CA 90703; Phone: (800) 453-7884