Tag Archives: FHA 203K Loan

FHA 203K Loan – Benefits of FHA Home Improvement Loans

In recent studies, home ownership rates have increased steadily because of the implementation of the FHA home loans. Purchasing homes has been made easier because of this benefit. Through the years, FHA has assisted Americans to gain their rights in owning the homes that they want. Reasonable mortgage rates for middle class, producing housing for the elderly and those with low income, and financing military housing are only a few… Read More »

FHA 203K Loan Makes Financing a Home in Need of Repairs Simple

The FHA 203K loan is a type of financing that is insured by the Federal Housing Administration. It is a unique type of financing that allows homeowners to obtain both a purchase loan and rehabilitation financing in the same transaction. Before this transcendent loan program, a homeowner had to obtain an initial, temporary loan to purchase the home and a separate rehabilitation home loan to make any necessary repairs. Only… Read More »

FHA 203K Rehab Loan – From Handyman Special to Dream Home

An FHA 203K loan allows a home buyer to compete with the real estate investor. This loan allows for repairs to a property that generally would not qualify for financing due to property condition. This is a very popular loan for the budget conscious home buyer in New Jersey. There are 2 types of FHA 203K loans. The full “K” and streamline “K.” A property that needs structural repairs or… Read More »

FHA 203k Loan Guidelines and Requirements

The FHA 203k loan requirements and guidelines for renovation has the same qualifying requirements as a standard FHA 203B loan which has the most flexible guidelines with minimal down payment than any other type of loan at this time. The difference between the two is that the FHA 203K will allow for the repairs, rehab or remodeling of your home to be included into the new loan while the FHA… Read More »

FHA 203K Loan – Getting an FHA Construction Loan

With the current doom and gloom that is all around, most especially plaguing the housing and mortgage market, getting a new loan or mortgage is a lot more difficult. One of the most difficult loans to obtain nowadays is a home improvement and construction loan. But borrowers need not worry because the currently popular FHA loan has a FHA construction loan that you could get for your home improvement requirements.… Read More »