FHA 203K Loans
Renovation financing can be a very useful tool for buyers that just can't find the right house. Many buyers can look at 10 to 20 or more houses that they don't fall in love with and may just stop the process due to frustration. If you can't find that perfect house, let us help you create the perfect home! You can have a whole new pool of potential houses by looking at great houses that need upgrading, or you can add on to them, and increase your equity almost immediately.
An FHA 203K Loan is one of the best renovation products available to help you create a house into your home. You can buy a home, fix it up the way you want it, and include all the costs in one loan.
An FHA 203K covers items such as:
- Decks and Patios
- Bathroom and Kitchen Remodels
- New Siding
- Room Additions
- Go up another level (Add a second story)
- Lift a home
- Heating and Air Conditioning Systems
- And more!
A 203K loan may be right for you if:
- You're a first time home buyer that needs new appliances or brand new carpet and paint
- You're in love with the location, but the house is dated and in need of some modern upgrades
- There are appraisal issues, such as health and safety concerns, or the house needs some repairs. With a renovation loan, you close the loan in AS-IS condition, so the transaction will proceed as planned and all the work takes place after the loan closes and funds.