Need a Renovation Loan? Check out the 203(K) FHA Loan.

Bought a "Fixer Upper"? The FHA 203(k) Renovation Loan allows us to borrow the purchase price of the home minus your down payment, plus money for renovations.  And a single loan and closing.

4 key features of an FHA 203(k) loan:

1. Requires as little as 3.5% down payment to qualify
2. Includes most renovations that add value to the property
3. Covers materials, labor and expenses such as permits and fees
4. Applies to owner-occupied primary residences, from 1-4 units

Fine Print to Zoom in on about the 203(k) mortgage:

• Section 203(k) covers the purchase or rehab of a home that is at least one year in age
• The loan proceeds are used to pay the seller of the home while the remainder is placed in escrow and released as the rehab process is completed
• The cost of the repairs or rehabilitation of the home must be at least $5K
• Bathrooms, Kitchens, (Built in appliances) 
• 2nd Story or adding a bathroom
• Finishing the basement
• New siding and windows
• There is no specific maximum repair amount and will depend upon the scope of the work.

Let the demo begin!!