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Inlanta Mortgage introduces mortgages for homes needing renovation
To assist home buyers looking to purchase homes in need of repair or renovation, Waukesha-based Inlanta Mortgage recently began offering its customers the Federal Housing Administration’s 203(k) loans. The program is based on the projected final value of the home, allowing a homeowner to access funds needed for renovation.
“With the number of foreclosures on the market, especially those homes that need a little fixing up, an FHA 203(k) loan is an excellent program,” said Jean Badciong, chief operating officer at Inlanta Mortgage.
To help roll out the new loan product, Inlanta has hired Cassy Humberger as branch manager of its Carmel, Ind. office. Humberger has more than nine years experience with the 203(k) loan program.
“Since this is such a specialized loan, we felt it was essential to find someone with experience in this program to assure everyone involved in the process, especially our borrowers, are properly educated on how this program works,” Badciong said. “In addition, Cassy is training our existing loan officers that would like to offer this program, but are not familiar with all of the details.”