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Loan Programs Renovation Loans FHA 203K

FHA 203k

The FHA 203k loan is the single best finance tool available in today's market which allows you the flexibliity to finance a property that will not pass an appraisal inspection or is in otherwise, less than perfect condition.  This loan gives you money to buy the home and fix it up, all in one loan, with one settlement.  Here are just a few advantages to this versitile program:

  • Down payment is only 3.5% and fees are nominal.
  • Use this loan to PURCHASE a new home or as a REFINANCE tool and renovate your existing home!
  • Eligible improvements include putting on an addition, finishing the basement, mold remediation, structural repairs, new bathrooms and kitchens, or just minor renovations like fresh paint and carpet.
  • Eligible properties are vast, to include standard residential properties,  1-4 units, mixed-use, and even condos.
  • The program has parameters in place to protect your interests throughout the process and limit the intimidation or uneasiness associated with a renovation/rehab project.

This program is so flexible, almost ALL properties can utilize an FHA 203k for financing, as long as the property has at least one unit that is occupied as the primary residence of the borrower.  Instead of diagnosing if this loan is a fit for you, just give us a call and discuss your project with one of our experienced 203k Coaches.  The service is free and only takes a few minutes.  We would be delighted to assist you.

Count on Our Reliable, Efficient Staff

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