FHA 203(K) Rehabs

We Specialize in 203(K), Homestyle & Homepath Rehabs

Congratulations! You are investigating what might possibly be the best-kept secret to building equity in a new (to you) home. Certainly there are no guarantees, but the possibilities are nearly endless as to what you could do to put your own signature on your new home through a renovation loan.

Let’s face it – the home buying process is very trying. You spend countless hours scouring the Internet, driving neighborhoods, and walking through homes – just to end discouraged that the inventory of available homes these days isn’t quite up to par. How often have you identified the neighborhood you like, but find that the homes that are available are not “move in ready” and may also have issues that will keep the banks from lending funds?

A renovation loan just may be your answer!

Here’s some advice:

  1. Get educated. Take time to browse through the FAQ section on the 203kcontractors.com website (link also below). This site contains valuable information that will help you make informed decisions.
  2. Find a real estate agent who is familiar and comfortable selling homes using a renovation loan. Any agent can sell you a home, but fewer have the savvy and experience to help you navigate this process.
  3. Find a lender who has extensive experience writing these loans. Each loan option (203k, Homestyle, or Homepath) is unique and your lender should be able to help you understand the differences and choose which option best suits your needs.
  4. Build a relationship with a contractor who understands and has experience with renovation loans. Make sure they have the financial resources and stability to complete your product. Any number of contractors can repair a home but fewer are familiar with the specifics of these loan options and are willing to give you the personal attention required to coach you through this process.
  5. Give us a call! We’d love to serve your needs. We can point you towards a realtor or a lender, and we can certainly assist with any of your rehab needs!

We are certified through 203(K) contractor.com and look forward to serving your rehab needs!

 

Resources:

203(K) Contractor Site 

203(K) FAQ Resource