203k Loans for remodeling

By
Mortgage and Lending NMLS#297251 BRE#01140252

203k LOANS may work for you.

*203k Purchase loans can be used to buy those homes that need repairs to qualify for financing.

The Streamline 203k is for the repairs needed such as carpet, paint, appliances, granite, minor repairs between 5k and 35k and can close within 45 days.

If there is more extensive repairs above 35k, you will have to go with standard 203k which can fund the loan with up to 6 months without payments during the renovations.

                                                 203k loans

 

  • You can buy a fixer-upper or REO that needs renovation.
  • You can get funds to purchase and upgrade your dream home.
  • You can refinance and renovate your existing home.
  • Loan amount based on the home value including renovations
  • Only one loan needed to both purchase and improve or Refinance and rehab your own home.
  • Can be used to buy property otherwise not eligible for financing


    The minimum fico score required is 580 and 3.5% down FHA financing. I specialize in Under 640 Fico Score Loans and offer credit repair at no cost to raise fico scores to qualify.
    It only takes a few dozen questions to qualify and go over your options...

    CONTACT ME

    Sheryl Arndt, Real Estate Broker - Sr. Loan Officer CA only
    REO & Short Sale Specialist
    Credit Repair At No Cost
    20+ Years Experience
    203k Loan Specialist
    DRE# 01140252
    NMLS# 297251
    760-486-4225
    9am till 7pm 7 days
    http://www.Under640FicoScoreLoans.com

     

     

     

     

Comments (2)

Roy Kelley
Realty Group Referrals - Gaithersburg, MD

The FHA 203(k) program is ideal for the purchase of fix up properties. You should be able to write a long series of blogs on this topic.

Best wishes with your ActiveRain blogging.

Jan 01, 2015 09:31 PM
Sheryl Arndt

Hello Roy, yes this is true. The 203k loan has many purposes big or small in the remodeling or a home. I am only licensed in CA but it is available throughout the country...

Jan 02, 2015 01:07 AM