Did You Know?

Aug 04 2017

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We are a Top 10 Investor for 203(k) loans!

We've been doing 203(k) loans for many years and we know the pitfalls. We also have a dedicated team that handles the draws for you (not outsourced).

We are your partner on the path to success and our EASY system is built to help you grow! 

Topics: 203k

FHA 203(k) - For Those Who See Possibilities

Aug 13 2015

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The 203(k) Rehab Loan helps borrowers rehabilitate their property with a single loan that
finances both the purchase price and the costs of home improvements.

This is the perfect program for those homebuyers who want to take a fixer-upper and transform it into their dream home!

Highlights of the 203(k) program are:

  • 30-year fixed FHA renovation program
  • Contractor chosen by buyer
  • Seller receives agreed upon sale price
  • Buyer’s loan includes rehab escrow account
  • Work begins at closing
  • “After improved” value used to approve loan
  • Cost of work is included in the loan
  • Program uses an easy FHA “subject to” appraisal
  • Full 203k - Extensive repairs - $35,000+
  • Streamline 203k - Smaller repairs - $5,000 to $34,999

To take advantage of our 203(k) program and all The Money Source has to offer, visit our Become a Partner page!

Topics: Correspondent, FHA, The Money Source, 203k, Pink Unicorn, Renovation

Meet the TMS Team - Angela Stalzer

Aug 07 2015

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Welcome to another edition of Meet the TMS Team! Today we’ll introduce you to Angela Stalzer, 203k Team Lead / DE Underwriter.

Angela works in our main office in Melville, NY and has been with the Team since September of 2011. She chose to work at The Money Source because of the atmosphere and how family orientated it is. She doesn’t feel like just an employee, but a part of the family. She has met some great people at TMS that will be lifelong friends. One of her hobbies outside of work, is teaching children to speak Italian!

The most influential person in her life, is her mother. She taught her to be strong and independent.

Other fun facts about Angela:

  • Favorite Candy: Twizzlers
  • Favorite Book: The Longest Ride by Nicholas Sparks
  • Favorite Take-Out Restaurant: Beni-hana Japanese…especially the crunchy shrimp roll!

Thanks to Angela for sharing a little about herself!

Topics: NY, The Money Source, Melville, The Money Source Correspondent, Meet Our TMS Team, The Money Source Inc., Angela Stalzer, Correspondent Mortgage, 203k

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