Finally... A Viable Solution to Purchase and Rehab your home in one transaction...
Have you been searching and searching for the perfect home and are frustrated because they are just not quite up to par? You may want to look into the "Diamond In The Rough" Home Financing Program. Affectionately know as the FHA 203K Loan Program... This program is an affordable, stable financing solution that combines the funds to purchase a home and pay for the cost associated with your desired upgrades and improvements...
It has never been a better time to take advantage of this under utilized Government program. With a multitude of homes on the market priced for pennies on the dollar, now is the time to take advantage of this great program and get that home of your dreams. Imaging finding the perfect home in the neighborhood of your desire PLUS the funds to upgrade it to your personal liking....
This program is also available to current homeowners looking for the funds to remodel and upgrade their current home. . .
Most mortgage loan programs today require homes "in need of work" to be complete before the financing can be secured for the purchase transaction. Additionally, if you are a current homeowner looking to upgrade and make improvements to you current home, it is quite difficult to obtain financing to support the cost of the improvements.
This special program provides great flexibility. Whether the property needs a minor upgrade, or a lot of work, statics show that most First-Time Home Buyers simply don't have the up-front cash to invest in a property prior to actually securing the financing.
The "Diamond In The Rough" Rehab Loan just may be your answer to turning that "fixer-upper" into your dream home.
The financing for this loan will include the purchase price, in addition to the improvements you are either required to do to be able to live in the home, or that you want to do, such as upgrade and remodel the kitchen, bathroom, install new carpet, complete the basement, etc.
Real Estate Agents, or For Sale By Owner individuals struggling to sell homes in need of repair should look into this program and start marketing the property with this special finance program to accomplish their goal of selling the property.
Just imagine giving a Buyer the option to complete those repairs and upgrades without a large upfront financial commitment, great fixed rates and the home of their dreams!
Outlined below are a few Benefits of the "Diamond In The Rough" Rehab Loan Program:
1. Savings - Repairs on a fixer-upper can be expensive, and the Rehab Loan allows borrowers to finance the improvements into the new loan vs having to pay for the upgrades prior to closing.
2. Low Interest Rates - Historically, FHA Mortgage Loans have lower than average rates when compared to commercial or conventional financing programs.
3. Great Property Deals - Since Rehab Loans are designed for "fixer-uppers," buyers can qualify for a loan on a home that needs work, and actually finance the construction costs / repairs up front.
4. Realtor/FSBO Advantage - This program allows realtors and individuals seller their home to market the home(s) in need of repair that historically require a cash buyer. Additionally, sellers who cannot afford to perform the upfront work on their home have the opportunity to sell "as is" and allow the buyer an option to perform the required repairs and customize their new home to their personal liking.
5. Great Equity Position - This is a great opportunity for Buyers purchasing a HUD owned home or a bank foreclosure which are typically priced under market value, due to the required repairs and/or neglected condition of the property. Keep in mind that all repairs and upgrades are financed which drastically reduce the out of pocket expense.
6. Buy a HUD owned home for Pennies on the Dollars and just $100 down!
For details, contact our office, or your personal mortgage advisor specializing in Government programs. We hope this information has been helpful. If you are interested in more details, or specifically how you may take advantage of this program, please feel free to reach out to us. Make it a great day!
For a list of pre-screened "Diamond in the Rough" home available for sale in the Greater Fox Valley Area, send an email to firstname.lastname@example.org