Sat 8/13/16 Open House 1-4pm 236 Rafkind Rd, Bloomingdale,
What Is A 203k Loan
What’s a 203k loan?
A 203k loan is a loan offered through the Federal Housing Administration hence… FHA 203K loan. The FHA is a government agency who designed these loans to encourage lenders to fund “risky” home purchases. What do I mean by risky?? Well….those properties in despair and in need of total rehab. Quite dangerous walking through one. Some questions you may be asking…
How can I qualify?
What type of down payment would I need, if any?
Which houses qualify?
Which repairs qualify?
Do the repairs have to be done in a certain time frame?
Who can I ask for more info?
There are so many different types of loans and programs out there. Some with little to even no down payment. Programs for teachers and police officers and more. Click here to get specific info on financing your next home or income property by the expert! Free advice and review of credit and program placement available!