The FHA 203K loan gives you the ability to not only purchase/refinance a home, but to also have the money necessary to make repairs that you wish to make. These repairs can be anything from major structural repairs to cosmetic changes that you want to make. The kicker is that you usually have to have a professional do the work for you. There are exceptions to the rule of … [Read more...] about Can you Perform your Own FHA 203K Loan Repairs?
You know the drill; you have been in your home for more than 10 years and suddenly you find out that you need a new roof. Knowing that it is a very expensive replacement, you start to wonder how you will ever make that happen. Should you take out a second mortgage? What if you do not have enough equity in the home? Maybe you should take out a personal loan? There are many … [Read more...] about How the FHA 203K Program can Help with Common Repairs
203K loans seem to be a great benefit to borrowers because it enables them to purchase a home that would otherwise be unable to be financed if it is in poor condition. This is especially true for rundown and foreclosed homes. If a home cannot pass a home inspection, it cannot get financing unless it is part of the 203K program. This FHA program helps to boost communities back … [Read more...] about 3 Ways the Community Benefits from 203K Loans
It is very easy today to get an FHA 203K loan, allowing you to purchase a home that needs some serious TLC, but it is important that you do not jump at the first house that you find. Even if your visions are grand and yourremodeling plans extreme to make the fixer upper the home of your dreams, you need to do some serious research not only on the home that you are purchasing … [Read more...] about 203K Loans: The Importance of Research
The FHA 203K loan is well known for its ability to help consumers purchase a rundown home as well as fix it up with the funds from the loan. What many people do not realize is that this loan can also be used to refinance the home that they are currently living in and allow them to do repairs on the home. This little known secret can save you thousands of dollars in the long run … [Read more...] about 203K Refinance: Why you Should Consider It