Find Out If 203K Loans Are Right For You
Understanding the 203K Loan...
We offer 203k Loan Rates that are Low & Our Process is FAST & Painless
However, the loan will also include: 1) a reserve of up to 20% so that you have the funds to complete the remodeling in case it ends up costing more than the suggested estimates and / or 2) a reserve that will give you around six months, less mortgage payments, so you can live elsewhere during the renovation but still pay the mortgage payments on the new home.
As your Lender, we are here to ensure the home mortgage process is less intimidating by providing support and understanding designed to help guide you along the way, starting with our easy 203K Program Check.
Why a 203K Loan?
The main advantage of FHA 203k loans is that they provide consumers the power to shop for a home that possibly is in need of repairs that you may not have been able to afford while in pristine condition. As a result of the condition, you can commit to completing the repairs and being an FHA Loan Product, the process can begin with as little as 3 ½ % (special product guidelines my apply).