fha 203k loans: FHA Financing for Fixer-Uppers - 04/04/10 11:54 PM
 
You find a neat "fixer-upper," then learn that banks won't lend until the repairs are done, but the repairs can't be completed until the house is purchased!  This Catch-22 scenario can be solved by HUD's FHA-backed 203(k) "rehab loan," growing in popularity because so many foreclosure purchases are in dire need of repairs.

This loan covers the cost of the home, plus money for repairs up to a maximum of $35,000!  To get the ball rolling, you'll need funds for the 3.5% required down payment, and then to find a suitable property.  Your real estate representative will prepare your … (11 comments)

 
Gabe Sanders, Stuart Florida Real Estate (Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales)

Gabe Sanders

Stuart Florida Real Estate

Stuart, FL

More about me…

Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales

Address: 2391 SE Ocean Blvd., Stuart, FL, 34996

Mobile: (772) 323-6996

Office: (772) 888-2885


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