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Rehab Your Home With a FHA 203(k)

July 27, 2012

 

Have you found a home that is exactly what you wanted and selling at a reduced price because it needs some rejuvenation? The FHA 203(k) Rehab Loan is a popular mortgage program designed for buyers that want to finance the cost of home improvements into a new loan.  Whether the property needs a little or a lot of work the FHA 203(k) Rehab Loan may be your answer to turning that fixer-upper into your dream home. The financing for this loan will include the purchase price, as well as 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 the kitchen, bathroom, and other living spaces. Also, this is a great loan program for agents trying to sell homes that need repair. Buyers will have an option to complete those repairs and upgrades without a large upfront financial commitment. Think of this as a one-time close construction loan. At closing, the seller receives their money and the rest is put into an escrow account for the buyer to use for the properties rehab. If you think FHA 203(k) may be a good choice for a property you have on your mind, contact Platinum today to get the process started!

Read more about FHA 203(k) Loan at the link below!

Rehab a Home w/HUD’s 203(k)

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