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Conifer Colorado FHA 203K Renovation Loans
Special Government Home Renovation Loan Program with FHA 203K Renovation Loans in Conifer Colorado. There is a special government loan program that is part of the Federal Housing Administration (FHA)- a department within HUD.
A home buyer or existing home owner can remodel or update their home without having a higher cost second lien thanks to this special FHA loan program. "Luxury items" such as a hot tub or a swimming pool are not allowed with this FHA loan program. Repaint, remodel cabinetry in kitchens and bathrooms, add wallpaper, replace appliances and flooring and even add a room to an existing structure (which will increase the value of the homes square footage).
There are many advantages with this government loan program but the biggest is the ability to have all of your acquisition or refinance loan costs together with your renovation loan in one low interest rate instead of two separate government loans that are always of higher interest rates. This FHA loan program is called a 203K loan, as defined by the Federal Housing Administration.
For more information, please visit the FHA website: http://portal.hud.gov/hudportal/HUD?src=/program_offices/housing/sfh/203k/203kabou
Lenders have to be approved by HUD in order to do this loan program. To ... more
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