What is a 203(k) Re-hap loan??
It is a loan where you the buyer can purchase a home in need of repairs and finance the cost of re-haping it. Example: You finally find just the right home but it needs a new roof and the kitchen and bathrooms are out dated. The problem is you don't have the cash to make these repairs yourself. That's where a FHA 203(k) loan can help. Here is a list of improvements you can make with a FHA 203(k) loan.
- Roofs, gutters and downspouts # HVAC systems (heating, venting and air conditioning)
- Plumbing and electrical
- Minor kitchen and bath remodels
- Flooring: carpet, tile, wood, etc.
- Interior and exterior painting
- New windows and doors
- Weather stripping & insulation
- Improvements for persons with disabilities
- Energy efficient improvements
- Stabilizing or removing lead-based paint
- Decks, patios, porches
Click here to see the entire list of improvements and repairs.
If you need a 203(k) loan or want more information about this program give Markita Aldridge-Woods The Queen of Mortgages 703-497-3936 at West Star Mortgage a call. West Star Mortgage is a direct lender for FHA 203(k) financing.
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