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203k - The Advantages

203k - The Advantages
 
  • Minimum of only $5,000 in repairs/updates
  • Close before repairs begin...sellers love this
  • Major items are allowed (foundation, roof, mechanicals, etc.)
  • Only one closing, with money disbursed on a draw basis after closing
  • Loan amount can go as high as 110% of the "after-improved value"
  • 80 days to complete renovations
  • Buyer can include optional renovations, not just necessary repairs
  • Buyer can finance house payments if unable to live in property while repairs/renovations made
 

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"Please note that the information above is not intended to be any decision of, or commitment to, any loan type or amount of loan for which one may qualify with any financial institution. The information is not intended to extend any legal, tax or financial advice. The accuracy of the information contained in this advertisement is not guaranteed. Please consult a loan professional to learn more about your eligibility for and availability of a particular loan product."

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