There are many homes for sale in Knightdale and Raleigh that are in great shape - but they might not be EXACTLY what you are looking for. Maybe you'd like to spend a few dollars updating the appliances, or putting in hardwoods through out. Maybe you'd like to go ahead and purchase an Energy Saving Washer and Dryer. Great News! You can do these "updates" with FHA's 203K Streamline mortgage program!
With a 203K FHA loan you could purchase the home at 5605 Sandy Trail Drive in Knightdale, NC for the asking price of $138,900 - budget in $10,000 for improvements, and actually only need a 3.5% investment in the total amount of $148,900.
With very few exceptions, you will need a licensed Contractor to do the work for you. Although you can't change the foundation footprint of the home - any "cosmetic" changes you might want to do would be allowed under this FHA 203K program... making it perfect for forclosed property - or homes that had deferred maintenance, and need some updates.
Today's FHA Mortgage rates are actually below Conventional financing at 4.25% on a 30 year fixed rate loan (disclosure they are subject to change daily APR of 4.478). This is a great home, in a wonderful neighborhood - and we are only highlighting the opportunity to make these cosmetic changes because some buyers might want to... not because the home is in bad shape.
If you have questions about qualifying for a home loan in Knightdale, and using the FHA 203K program - please call Steve Thorne at 919-649-5058. If you want information about other mortgage programs available to help you buy foreclosed homes, or to purchase a HUD home in Raleigh for $100 down payment - we can help you with that too!
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