FHA 203-K Loan Program - Making Ugly Work!

FHA 203-K Home Loans - What's the Scoop?

The 203-K loan program is dedicated to the pursuance of home ownership and improving communities. If you've given some consideration to opening your search to homes that need a little bit of TLC, this could be the loan program for you!

Due to the hike in foreclosed and short sale properties, there has been a dramatic increase in people asking for products similar to the FHA 203-K Loan program, that allow you to wrap-in or include repairs needed.

As with other FHA loan programs, the 203-K Loan allows for:

• A lower 3.5% down payment
• Lower credit requirements than other loan programs
• Assumable notes and no prepayment penalties

But many things set the FHA 203-K Home Loan program apart, including:

• Single loan for both purchase and improvements or upgrades to the home
• FHA Energy Efficient Mortgage (EEM) allows for improvements that will lower utilities
• The ability to pay for improvements that fit the desires and aesthetics of you!

Click here to read an article about how the FHA 203-K Home Loan has worked for buyers.

Contact me if you are interested in speaking with a 203-K Loan Representative or viewing homes that would qualify for it's use.