An FHA 203k rehab loan is a specialized mortgage option that allows homebuyers to purchase a property in need of repairs or renovations while financing the costs of those improvements.
With this option, not only can you secure a loan to buy the home, but you can also obtain the funds needed to transform it into your ideal living space.
If you've fallen in love with a home that requires significant repairs, this loan can provide the financial means to tackle those renovations. It's particularly useful if you're not able to pay for the repairs upfront or if you prefer to finance them within your mortgage.
Furthermore, if you're an investor looking to flip properties for profit, this loan can be a valuable tool in your arsenal. It allows you to purchase distressed properties, renovate them, and sell them for a higher value, ultimately maximizing your return on investment.
An FHA 203k rehab loan is a fantastic option for those who want to turn a fixer-upper into their dream home or for investors seeking profitable opportunities.
It offers the flexibility and financial support needed to transform a property and make it truly shine. To find out if this loan program is right for you, please contact us! We have the answers and loan options you need to make smart and affordable decisions.
Interest Rates Have Increased
Borrowers May Not Qualify
Due to DTI Calculation
Time To Consider
NO RATIO PROGRAM
No DTI calculation
No Income on Application
No Employment on Application
No Tax Returns
No W2s
No 1099
Only Required to Have
as low as 20% Down Payment
80% LTV = 720+ FICO - 12 Months Reserves
75% LTV = 680-719 FICO - 9 Months Reserves
65% LTV = 660-679 FICO - 9 Months Reserves
Funds for Down Payment
Closing Costs
Prepaid’s
Reserves
Primary Residence
Second Home
Purchase
Refinance
Minimum Loan $200,000
