Do Any of The Following Scenarios Describe Your Current Situation?
Have you found the right house but it needs work? FHA 203k
Do you have an HGTV idea? FHA 203k
Will the house you found have an appraisal issue? FHA 203k
Are your funds too limited to buy the home and then pay out of pocket for repairs? FHA 203k
It happens so often that a buyer finds the right property, in the right school district, in the right neighborhood, BUT it is in need of some TLC or home improvements.
Rather than purchasing the home (assuming it meets loan condition requirements) and then paying for the improvements out of pocket, consider financing the purchase and improvements together for less money out of pocket.
FHA 203k Rehab Loan Features:
- FHA 203k streamline mortgage loan for non-structural improvements less than $35,000
- FHA 203k full which is a mortgage loan for structural improvements or amounts totaling more than $35,000
- FHA 203k mortgage loans are for the purchase of a primary residence only
Why Choose Team Move For Financing your Rehab for Repairs or Improvements?
Not only does Team Move finance building new homes, but we also finance home improvements and repairs into your first mortgage. Coordinating home improvements along with purchasing a home at the same time requires a lot of detail, patience, finding the right product, and a having a caring team to guide you along the way. That is what we do for you so that you not only get the keys to your new home but it is getting the keys to the home you really want. Look at the house you found which is in the right place, now close your eyes to picture your perfect kitchen, your luxurious master bath, your favorite colors throughout, and siding from that house you always admired. These rehab loans for the most part go by FHA guidelines.Posted by Dietchi Thomas on