Coy C. Vickers, Jr.

Licensed Real Estate Broker / Real Estate Consultant 

Turning Your Realty Dreams Into Reality

Buying a house is not a walk in the park, especially if you have a limited budget. Whether you’re a first-time homebuyer or startup real estate investor, you can easily get lost in the complex world of real estate if you don’t play your options well. With the help of Coy C. Vickers, Jr. and his team in Philadelphia, you’ll be able to find a property you can proudly call your own without any hassle!

What Is a 203k Improvement Loan?

A 203k improvement loan is a mortgage option guaranteed by the Federal Housing Administration (FHA). Compared to other types of loans, FHA 203k is easier to get approved and less risky for lenders.

With 203k, you can borrow money using only one loan. It’s a great option if you’re interested in buying a property that has lots of potential but needs improvements. You can use the money to make the purchase and perform the necessary repairs to make the property more suitable for living. For more information, do not hesitate to text or email us!

What is the Energy Efficient Mortgage Program?

The Energy Efficient Mortgage Loan program helps current or potential homeowners significantly lower their monthly utility bills by enabling them to incorporate the cost of adding energy efficient improvements into their new home or existing housing. This FHA program eliminates the need for homeowners who are interested in making their home more energy efficient to take out an additional mortgage loan to cover the cost of the improvements they intend to make to their property. The program is available as part of a FHA insured home purchase or by refinancing your current mortgage loan.

It is our government's goal to make energy efficiency and conservation a way of life. The FHA Energy Efficient Mortgage Loan program contributes to these efforts by providing better housing and creating a way for homeowners to make valuable improvements to their homes at a relatively low cost.

Specialized Services

What is a mortgage loan modification?

A mortgage loan modification is a change in your loan terms. The modification is a type of loss mitigation. The modification can reduce your monthly payment to an amount you can afford. 

Modifications may involve extending the number of years you have to repay the loan, reducing your interest rate, and/or forbearing or reducing your principal balance.  

If you are offered a loan modification, be sure you know how it will change your monthly payments and the total amount that you will owe in the short-term and the long-term.

 What is a short sale?

A short sale, also known as a pre-foreclosure sale, is when you sell your home for less than the balance remaining on your mortgage. If your mortgage company agrees to a short sale, you can sell your home and pay off all (or a portion of) your mortgage balance with the proceeds. Depending on your situation, you may be required to make a financial contribution to receive a short sale.

A short sale is an alternative to foreclosure and may be an option if:

  • You are ineligible to refinance or modify your mortgage
  • You are facing a long-term hardship
  • You are behind on your mortgage payments
  • You owe more on your home than it's worth
  • You have not been able to sell your home at a price that covers what you still owe        on your mortgage
  • You can no longer afford your home and are ready or need to leave

Residential Evaluation - Broker Price Opinions

* Property and neighborhood information

* Subject property condition

* Prior sales and listing history

* Maps and Photos of subject and comparable coms