An FHA 203k loan, (sometimes called a Rehab Loan or FHA Construction loan) allows you to finance the purchase of a house that needs major renovations or repairs and the cost of said renovations or repairs. Because lenders do not traditionally approve loans for homes in need of major repairs, the 203k loan addresses this issue by including the funds for the purchase of the home, the estimated cost of repairs, inspection fees, and even six months of mortgage payments.
As a certified HUD consultant for the FHA 203k renovation loan program, we will prepare all of the necessary documentation your lender will need when applying for the loan, including inspecting the home, estimating the cost of repairs, and more.
Learn more about the 203k loan program at the U.S. Department of Housing and Urban Development website or get answers to frequently asked questions on our website. When you are ready to get pre-qualified by one of our certified 203k loan specialists, contact us to schedule a meeting with one of our experienced professionals and obtain a no obligation cost estimate!