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Dear Valued Partner,

Expand your market and profitability by offering Sun West's FHA 203k product. With over thirty years of lending experience, Sun West is an expert in this product and has been originating and securitizing 203(k) loans nationwide since the early 90s.

The FHA 203(k) is HUD's primary program for rehabilitation of single family properties (1-4 Units). With the 203(k) Program, the Borrower gets just one Mortgage loan, at a long-term fixed (or adjustable) rate, to finance both the acquisition or refinance and the rehabilitation (repair or modernization) of the property.

Our depository institution partners, through the FHA 203(k) program, can meet their responsibilities under the Community Reinvestment Act (CRA).

Advantages of offering the Sun West's FHA 203(k) Loan:

  • Fast Purchase: Sun West will purchase closed 203K loans form our approved correspondents within seven days!
  • Sun West manages the repair administration at its loan servicing center in Cerritos: Get the funds within 24 - 48 hours of submission of your draw paperwork.
  • The 203k product is a low cost and simple way to finance bank repos and "fixer-uppers."
  • Allow your Borrowers the opportunity to purchase their dream home and rehabilitate it with one long term, low down payment mortgage. Loan Amounts for purchase are typically available up to 96.5% of the after-improved value (i.e. based on the appraiser's estimate of the property after all rehabilitation is completed)
  • Help your Borrowers refinance and lower their rates / payments and repair / modernize their homes with one long term, low interest, and low cost loan. The amount available is up to 97.75% of the "EXISTING DEBT + REHAB COST + CLOSING COSTS", which means the Borrower gets a single loan, with little to no upfront "out-of-pocket" expenses.
  • Promote the sale of REO properties, increase homeownership, and help individuals who need affordable housing.
  • Already have loans in the pipeline? Send them to Sun West. Our Service and Pricing for this product is among the best in the Industry.

Training and Support

If you need assistance to market, process or underwrite a 203(k) loan, the experts at Sun West will walk you through the entire loan process. We offer direct access to our DE underwriters.

After closing, we also ensure that your borrower is satisfied with our draw administration. Count on our 20 years plus experience in completing complex construction projects and managing contractors. We pride ourselves in providing the best customer service in FHA 203(k) draw administration process.

Sun West provides weekly webinars on this product see http://www.swmc.com/swmc/webinars.php. Additionally, for personalized training from our product experts, all you need to do is ask!

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

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



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