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Rehab - Renovation Mortgage Loans

Getting you the mortgage loan you deserve!

FHA 203(k) Rehab and Home Renovation Loans

An FHA 203(k) loan is a type of government-insured mortgage that allows the borrower to take out one loan for two purposes – home purchase and home renovation. An FHA 203(k) loan is wrapped around rehabilitation or repairs to a home that will become the mortgagor’s primary residence. An FHA 203(k) is also known as an FHA construction loan.

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Who Is It For?
The FHA 203(k) loan encourages families in the low- to moderate-income bracket to purchase homes that are in dire need of repairs – especially homes that are situated in old communities. The program allows an individual to buy a home and renovate it under one fixed or adjustable-rate mortgage. The amount that is borrowed includes the purchase price of the home and the cost of renovation, including materials and labor.

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Call or email today for more details!

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FHA Standard 203(k) Home Improvement Advantages

  • Minimum 3.5% down payment.

  • Borrow up to 96.5% of projected value after improvements are done.

FHA Standard 203(k) Home Improvement

  • Mortgage Insurance Premium (MIP) required.

  • Primary residence, owner-occupied homes only.

What's Next?

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Mortgage Calculators

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