What is a 203k Loan?
The FHA 203K loan enables the home buyer to obtain funds for a purchase and renovations all in one loan.
- One loan to pay for the purchase and renovating of the home
- Finance up to six months of mortgage payments
- FHA Standard Guidelines
- 1 to 4 unit dwelling
- Create the dream house you want
- Low scores and low down payments acceptable
- Key strategy in today’s real estate market
The 203(k) loan program offers borrowers the resources to rehabilitate a home that may be in need of repair either the home that they currently live in, or that special fixer-upper opportunity.
The FHA 203(k) program has already provided many buyers with the funds necessary to buy their first home, or greatly improve a current home. The FHA 203(k) loan is available to borrowers of all income levels, to homeowners who plan to occupy the house, and for homes with one to four units.