FHA 203K Loan Limits

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Real Estate Broker/Owner
https://activerain.com/droplet/4tKy

"What is a FHA 203K loan"?

These loans give you a way to buy a home in need of repair. Backed by the federal government and given to buyers who want to buy a fixer-upper or older home and turn it into their dream home.

Repairs that qualify under the FHA 203K loan and the streamlined 203K are new roofs, room addition, painting, appliances, decks, patios, bathroom and kitchen remodels, flooring, plumbing, siding and heating / air conditioning systems, among other repairs.

The maximum amount of financing under the regular FHA 203K is 110% of the value of the property after repairs, with the streamlined loan you can get up to $35,000 plus the purchase price of the home.

The kinds of properties that qualify include: 1 to 4 family homes, a torn down home, a home that you want to move and some condos are eligible. For more information on qualifying for these types of loans and exact repairs that are eligible, please contact us direct.

Donald Horne, Team Success Listing
Associate Broker for Coldwell Banker Shooltz Realty
Co-Host for Finding New Neighbors Productions
donaldhorne.realtor@gmail.com   /   810-338-0628

donald horne, realtor

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Rainmaker
373,949
Terri Poehler
Realtor - Coral Springs, FL
Coral Springs Real Estate Agent

Good information Donald. We can never be too up-to-date on loan products.

Jan 06, 2015 09:02 PM #1
Rainmaker
2,230,250
Joe Jackson
Keller Williams Capital Partners Realty - Columbus, OH
Clintonville and Central Ohio Real Estate Expert

Fantastic information. Thanks for keeping us updated.

Jan 06, 2015 09:18 PM #2
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Rainer
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Donald Horne

Team Success Listing LLC
Lake Orion to Lapeer, Your Local Realtor! Questions?
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