203K Loans on the Cheap!
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The Lowdown on 203K Loans...
Our VA Loan Rates Are Low & Our Process is Quick & Painless
An FHA 203K loan is a loan backed by the federal government and given to buyers who want to buy a damaged or older home and do repairs on it. Here’s how it works: Let’s say you want to buy a home that needs a brand-new bathroom and kitchen. An FHA 203K lender would then give you the money to buy (or refinance) the house plus the money to do the necessary renovations to the kitchen and bathroom.
Often the loan will also include: 1) an up to 20% contingency reserve so that you will have the funds to complete the remodel in the event it ends up costing more than the estimates suggested and/or 2) a provision that gives you up to about six months of mortgage payments so you can live elsewhere while you’re remodeling, but still pay the mortgage payments on the new home.
We’re here to make the 203K home loan process a whole lot easier, with tools and expertise that will help guide you along the way, starting with our FREE 203K Loan Qualifier.
We’ll help you clearly see the differences between loan programs, allowing you to choose the right one for you whether you’re a first-time home buyer or a seasoned investor.
The 203K Loan Process
Here’s how our home loan process works:
Complete our simple 203K Loan Qualifier
Receive options based on your unique criteria and scenario
Compare mortgage interest rates and terms
Choose the offer that best fits your needs
Why a VA Loan?
There are many benefits, as taken directly from the Veterans Affairs site: no down payment required (unless required by the lender or the purchase price is more than the reasonable value of the property); buyer informed of practical importance; negotiable interest rate… and more.