Texas City FHA 203k Renovation Loans

Mortgage and Lending NMLS # 243437

We offer a Special Government HOME RENOVATION Loan PROGRAM with Texas City FHA 203k Renovation Loans


 Many people are not aware of a special GOVERNMENT LOAN PROGRAM that is part of theFEDERAL HOUSING ADMINISTRATION or FHA(a department within HUD). This FHA LOAN PROGRAM allows the buyer or existing owner of a home to do significant amounts of remodeling or updating to their home without a higher cost second lien. 




 "Luxury items" like a hot tub and a swimming pool are not allowed by this FHA LOAN PROGRAM. But you can repaint, replace flooring, remodel cabinetry in kitchens and bathrooms, add wallpaper, replace appliances – even add a room to an existing structure (which can significantly add to value as you increase the square footage of your home). 




 One of the biggest advantages to this GOVERNMENT LOAN PROGRAM is you have all of your acquisition or REFINANCE LOAN with your improvement loan in one lowINTEREST RATE, government guaranteed loan instead of two LOANS-  including a first and a second lien loan (which is always at a higherINTEREST RATE). 




 The FHA LOAN PROGRAM is called a 203K LOAN by theFEDERAL HOUSING ADMINISTRATION. For more information, please visit the FHA website:  








 In order to do this LOAN program, lenders must be approved by HUD. It is important that you go with a lender that offers in house underwriting and expertise instead ofA MORTGAGE BROKER due to the intricacies of theLOAN program and to avoid long delays that brokered LOANS in this niche create. 




 There are two types of LOAN PROGRAMS within the Texas City FHA 203k Renovation Loans. 1. A streamline 203K LOAN. The dollar amount of improvements is generally lower for a streamline 203K loan, and there can not be any structural improvements on a 203K Streamline loan. Other than basic cosmetics and various other items. are allowed on a streamline 203K REHAB loan. The second type of 203K loan is called a Full 203K loan. A full 203K loan offers structural improvements like adding another room or doing FOUNDATION WORKas well as the ability for theHOME OWNER to REHAB or renovate their current property. 




 When looking for yourDREAM HOME you can envision a remodeled kitchen and bathrooms, new carpeting, lighting and paint with this Full 203K LOAN which could allow you to remodel your existing home or give you more flexibility in your home purchase. 




 For moreINFORMATION on renovation or rehabilitation of your home using Texas City FHA 203k Renovation Loans  or surrounding area please CONTACT Joy Bates , SENIOR MORTGAGE Banker at 817-860-3232 or email Joy:joybates@leader1.com or log on to http://legacyfinancial.com and request more information. Joy does LOANS all over the state of Texas. 

Posted by

The Legacy Group of CrossCountry Mortgage

Chad and Joy Bates NMLS #243437


Email Us 


1205 West Abram St. 

Arlington, TX 76013


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