Picture it. You’re ready to buy your home. Your credit is right where it needs to be. Your mortgage rep said you just need to do a few more things and you’re ready for pre-approval. You know which real estate agent you’re going to work with because they’re the one that has kept in touch with you and helped you along the way.
Now you’re thinking ok I’ve been driving by or walking by this house for the longest. There’s something about it you really like except – IT’S A JUNKIE HOUSE! Or is it?
You’ve seen your aunt who is a general contractor take a house like this and make it look really nice so you know it can be done. What about the house you want? You wonder how you’re going to be able to buy the house and have the money to renovate your home as well. You tell your real estate agent about it and she says, “Sure. That’s what the 203K Rehab Loan is all about. Problem solved!
The FHA 203k permits homebuyers to finance up to $35k into their mortgage to repair or improve a home. Many times as real estate agents, we take clients around looking for the perfect home and you may have seen a property that was perfect however it needed some repairs and upgrades. Well, your homebuyers can still have their “dream” home with a little patience and ingenuity. Knock out some walls, put in a new kitchen and bathroom and Walla! Your “Dream” home is ready for you and your family to move into. You found the perfect home and it fits the Lifestyle of you and your family; it has the all the space you need to be comfortable and create great family memories.
Have you seen that home that is perfect but it needs some work? Call me or reply to this post so I can tell you about the FHA 203k. We can make it happen together! Just ask me, Hey, “What about a 203k?“