rehab: More Specifics On The FHA 203k Loan...
- 12/19/08 03:09 PM
As a quick follow up to an article we posted last week, here are some more specifics regarding the FHA 203k Loan Program. Again, this is a great loan for financing HUD Homes, Bank Owned Properties and "As Is" or "Handyman Specials". From our friends at Indy Mortgage, "Here are some allowable improvements: Roofs Gutters Downspouts Windows Siding Doors Kitchens Bathrooms Room Additions Appliances A/C Hot Water Tank Well Septic Floors Basement Waterproofing Basement Finishing Porches Patios and more!" If you are anywhere near the Greenwood or Indianapolis area, you know our real estate market is full of HUD Homes and Bank … (1 comments)
rehab: Can I Really Roll Rehab Money Into My Mortgage?
- 12/13/08 07:24 AM
The answer, believe it or not, is actually "Yes!" But in order to do it, you're going to need to use the FHA 203k Loan Program. Now this is not giving you an open checkbook to go out and fix up a property in need of help but, it is a way to help you make some necessary repairs without paying for them out of pocket. Here's how it works: Prior to closing, you will need to have contractors come in and give you bids for how much it will cost to make the needed repairs to your new home. Now … (3 comments)
As a quick follow up to an article we posted last week, here are some more specifics regarding the FHA 203k Loan Program.
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