Advantage Lending Corp Gets HUD Approval For FHA Loans
May 5th 2009 HUD approved Advantage Lending Corp as a FHA approved lender. “Since the time of the approval we have successfully changed our ratio of conventional loans to primarily FHA insured loans” says President Daniel Litvin. “FHA has allowed Advantage Lending Corp to be a very competitive and growing player in the origination of government loans. The FHA 203K Streamline or Baby K as it is sometimes referred to is a specialty niche section of the FHA loan that allows borrowers to borrow up to $35,000 to repair the home in addition to the monies needed for the purchase of the property. This has been a huge boost to our number of closed loans in this economy since it seems that so many homes need some sort of renovation due to the condition they were left in”. Many lenders do not offer this product, and some that do are not very well versed in it or know how to explain it properly as we do.
Since the company’s inception in July 2007 Advantage Lending Corp has been growing and heading in the right direction. HUD’s approval of Advantage Lending Corp as a FHA lender proves this.