FHA 203k is a loan where you can purchase the home and then roll in the cost of repairs to be done after closing. Purchasing a bank owned home or short sales home, you have to purchase AS-Is and can not do any repair before closing.
Now there is a loan to help you purchase a great deal and make it your dream home. Call Rhonda 352-266-2637
RE-buildUSA allows you to more easily enjoy the following FHA 203k benefits:
•Only 31/2% down payment required, which can be gifted by family members
•More flexible qualification requirements allow those with less than perfect credit to purchase a home at competitive rates
•A single loan for both purchase and improvement of your home means you make only one loan application and pay one set of closing costs – saving you time and money
• FHA loans are assumable and there are no prepayment penalties
•An FHA Energy Efficient Mortgage (EEM) can allow you to qualify for a larger mortgage to add additional improvements that will lower your utility expenses.
•By including cost of renovation in your home mortgage, you pay for these improvements over time at a much lower interest expense than conventional alternatives
•Rather than paying a premium for a home in “perfect” condition, take advantage of the great prices available on foreclosures or other homes on the market that are in need of repair or remodeling
•Instead of paying for a previous owners improvements you may not desire, invest instead in exactly the features, colors, styles, etc. that suit your tastes and needs
•Enjoy the opportunity to live in an up-to-date home in a great location closer to work, shopping, cultural activities and more
Your RE-buildUSA 203k Specialist™ is trained and ready to help you find a great home at a great price that can be improved through the use of the FHA 203k program.
I have many short sales and foreclosures. If you would like to find a home call me 352-266-2637.