Get A 203k Rehab Loan

Some great information about getting a 203k rehab loan:

203(k) FHA Loans Make Good Homes Great

A 203(k) loan is an FHA insured loan that allows buyers to purchase a home and include money for renovations and/or repairs into the same mortgage loan used to purchase the home. This program loans buyers money based on the home's after-improved value. Repairs can either be required repairs or optional repairs. The minimum amount of repairs must be $5,000. With a 203(k) loan buyers can:

Build an addition Remodel an outdated kitchen or bathroom Update heating and air systems Get a new roof Update landscaping or build a new fence The 203(k) loan will help you sell more homes! It can be used to finance HUD homes, to market “fixer-uppers” and gives buyers an easy, convenient way to remodel a home to match their taste. If you would like to learn more about Prospect's Renovation programs, please contact me today! • Learn about home loans • Use loan calculators • Apply for a home loan David Groom Branch Manager Prospect Mortgage NMLS# 140971 1122 Kenilworth Drive, Ste. 510 Towson, MD 21204