Leissa Gebert of the Mortgage Consulting Group brokered many of the original Orenco Station home mortgages. Later, Steve Blaha of Esbey Construction completed much of the construction defect repairs left by the original builders on dozens of homes.

Well Leissa, Steve and I are teaming up in a new program whereby home buyers may do needed fixup and include the cost of repairs into their original mortgage. It's the Streamlined FHA 203k program.

Say someone wants to buy a home, but it needs new appliances, flooring,and touchup. These items will cost $20,000, and the home is priced at $250,000. Well this buyer may get an FHA loan for the $270,000 (assuming he qualifies) at today's low rates. The buyer can move in and the repairs can be paid for out of escrow.

Want to do a fixup of your present home AND refinance at the low rates we're seeing out there? The Streamline FHA 203k works for that, too. Pay off your old loan, do the repairs and have a new loan at lower rates.

Sometimes, they get it right.