One common concern among those looking to buy residential property is whether or not they can find a reliable rehabilitation plan. It can be difficult to secure funding for property renovation, especially when the majority of available houses are “fixer-uppers” that need extensive work. Our FHA 203K Renovation Loans, both the Standard and Limited 203K Advantage programs that we provide at SteveKnowsLoans are well-suited to your circumstances.
Similar necessities can be found in both programs:
- Minimum required FICO score: 550
- Loans for purchases, interest, and terms
- Places of permanent abode
- Fixed rates for 15 and 30 years
- High-balance and conforming loan limits
- Use the increase in the home’s value to secure a loan.
Learn about our FHA 203K Renovation Loans and the distinctions between the Standard and Limited SteveKnowsLoans 203K Advantage programs before deciding which one is best for you. Given their differences, you may discover that one of these courses is better suited to your needs. SteveKnowsLoans is here to assist you in learning more about your available choices.
What you get with the standard package:
- There are no limits on the number of units requiring service.
- Allowed alterations to structure and non-structure
- After the deal closes, you’ve got five months to do the job.
Included in the limited program are:
- The maximum repair cost is $35,000.
- Allowing 1-2 units
- There is no need for a HUD consultant.
- After the closing, the contractor has 4 months to finish the job.
SteveKnowsLoans’ mission is to assist borrowers in securing reasonably priced financing that is tailored to their specific requirements and moves them closer toward their goals. We help you through every step of the loan procedure, beginning with a thorough pre-approval check. Our screening process aids you in determining whether or not your loan request will be accepted as quickly as possible.
Contact us right away if you have any questions regarding the 203K Advantage loan program or any of the other loans we provide.
Call Steven Jackson at 813-616-9411 now!
