FHA 203k financing for non profit organizations
Learn who will finance your non profit to purchase and renovation properties as well as how to find some great low down payment properties.
Reasons a non profit might want to renovation homes
There are a number of good reasons for non profits to do the FHA 203k projects. We have a lender who will actually work with non profits right now and available in all fifty states.
Benefits to the non profit
- Put some profit in the till for the main purpose of your non profit
- Improve properties in your neighborhood
- Provide affordable housing for your neighborhood
- Creat jobs for local contractors and sub contractors
Benefits to the recipients of the properties once renovation is complete
- Buy a home for 30-50% below market
- Gain some sweat equity
- Help your church or non profit create affordable homes in your neighborhood
The problem has always been that there were no lenders who were willing to lend to a non profit since about 1998. The name of the game has changed. We have a lender who will make those loans now. Only one that I know of. Others have said they would in the past but when it came to performing they fell by the wayside. We now have a local lender who will lend all over the USA as needed so bring your non profit clients to the table and lets start regentrification in those neighborhoods that need it most.
This is what the FHA 203k loan program is all about, back to it's roots, providing affordable homes for those of our neighbors who need it most.