Posts tagged ‘fixer upper’

FHA 203k Purchase Rehabilitation Loan Info

The FHA 203(k) Rehab loan is an option for home buyers seeking to purchase a home that needs repairs. Sometimes dubbed a “fixer-upper” or Handyman’s Special” – buying a home that is in need of repairs can usually be bought at a discount and often yield a huge financial return.

The 203k Rehabilitation loan not only gives you the money to buy the house itself, but this loan also offers you the money you need to complete the required repairs to the home, all in one 30 year fixed mortgage at a low rate.

FHA 203k loans are in many cases cheaper than taking a construction loan to complete the necessary repairs. With a construction mortgage, you will most likely have to pay closing costs when you receive the initial construction loan, and additional closing costs once the construction is complete and you refinance.

With a 203k rehab loan, there is only one closing, one mortgage loan and 1/2 the fees! Read More about buying a house with a FHA 203k home mortgage loan…

Qualify for a FHA 203k loan now
Read more about FHA 203k loans

Watch a 54 second video on 203k loans:

http://video.yahoo.com/watch/5712637/14967510

FOR MORE INFORMATION ON 203K LOANS AND REHAB PROPERTIES, PLEASE CALL OR EMAIL EXIT 24/7 REALTY TODAY!

908-334-1475 or carl@exit24-7.com

June 1, 2010 at 5:49 pm Leave a comment


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