If you plan to purchase a fixer-upper or need to make improvements to your existing home, a FHA 203(k) loan may be the perfect rehab loan for you. Learn what a 203(k) loan is, how you can qualify, eligibility requirements, and more from the renovation mortgage loan originators at Homebridge today!
FHA 203k Loans can be a perfect all-in-one purchase and renovation loan for home buyers. Before you invest time and money, we’ll show you how to use the FHA 203k Loan Calculator to see if it’ll work for you.
something that these loan services are uniquely qualified to do. Known as a 203k loan, this allows you to borrow money for the purpose of making non-structural changes to a home, such as putting in.
203(k) Mortgage The Section 203(k) program is FHA’s primary program for the rehabilitation and repair of single family properties. As such, it is an important tool for community and neighborhood revitalization, as well as to expand homeownership opportunities.
Let’s examine the top four myths of the 203 (k) Loan: 1. Paperwork. Yes, there’s a little more work involved with a 203 (k) loan. 2. Time. We’ve heard the horror stories of 203 (k) loans taking forever to close. 3. Bids. Some people are natural negotiators. 4. Big Loan. Buying a house and.
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