Let us 203K your Home
- 203K Renovation loan allow homebuyers to purchase a house in need of repair or updating.
- You can finance the reconstruction of the home, into the mortgage amount, as long as the home appraise for after repair value.
- Borrowers get one mortgage loan, at a long-term fixed (or adjustable) rate, to finance both the acquisition and the rehabilitation of the property
Improvements can include:
- Structural alterations and reconstruction
- Modernization and improvements to the home’s function
- Elimination of health and safety hazards
- Changes that improve appearance and eliminate obsolescence
- Reconditioning or replacing plumbing; installing a well and/or septic system
- Adding or replacing roofing, gutters, and downspouts
- Adding or replacing floors and/or floor treatments
- Major landscape work and site improvements
- Enhancing accessibility for a disabled person
- Making energy conservation improvements
- Down payment assistance may be available