LOOKING TO BUY THAT FIXER UPPER?
Did you know that an FHA 203K Renovation may be just what you need to transform that one-of-a-kind property into the dream home you envision?
The 203K Loan program provides funds for both the purchase and the renovation of a home, packaged into one mortgage loan. Today’s high home costs and values are making home ownership harder for many Americans.
Less than "move-in" ready housing inventory has recently taken notice by many first time homebuyers and others seeking to live more environmentally correct. Media coverage, the increased availability of simple and useful tools and products, an abundance of online and live project and task education resources and growing market appreciation are but a few of the reasons many homeowners choose to roll up their sleeves and buy a fixer upper.
Whether the improvements you require are large or small, necessary or optional, you can add value to your property by accessing the Moneyhouse FHA 203K program
- Can be used for updating, modernization, or total renovation of your home
- Combine renovation costs and first mortgage with either fixed rate or adjustable rate mortgage
- Close on your loan and make repairs after closing
- Loan amount based on appraised value of home including proposed renovations
- 3.5% down payment
- Ideal to purchase and restore repossessed properties
- This loan can be used for improvements on a refinance or purchase
| Loan Name | Available in U.S. | Available in P.R. |
|---|---|---|
| 203K – Fixed Only | YES | YES |
Not all programs, references, products, options and terms indicated are available in all states. Terms, features and benefits for specific loan programs and information provided are subject to change without notice. This information is not a loan commitment, loan approval, or offer to lend. Individual and property specific program qualification guidelines including borrower and property eligibility should be discussed with a professionally licensed Moneyhouse Mortgage Loan Originator. You are encouraged to seek professional services assistance for accounting, legal and real estate matters relating to your contemplated transaction. Some programs referenced may require specific 3rd party or designated housing counseling requirements. For refinance programs, program imitations may include cash-out options and loan-to-value – refer to specific program guidelines offered by your professionally licensed Moneyhouse Mortgage Loan Originator for more details. For purchase transactions, property value is determined as the lesser of the final purchase price or the adjusted appraised value – refer to specific program qualification and eligibility guidelines offered by your professionally licensed Moneyhouse Mortgage Loan Originator for more details. Programs and products noted may require the payment of upfront, annual and/or monthly private mortgage insurance premiums and/or mortgage insurance payments. Not all programs will provide proceeds sufficient to pay off outstanding debts and liens filed of record. Other restrictions may apply. These materials and information are not from or approved by HUD/FHA. The Money House, Inc., is an Equal Housing Lender.