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Rockville, MD 20852
The FHA 203(k) Loan: A Home Repair Loan And Mortgage All In One
If you're looking at a fixer-upper, the Federal Housing Administration rehab loan may be the mortgage for you.
See how Fitzgerald Financial Group & the FHA 203k can make it happen and affordable!
For home buyers wondering how to incorporate potential remodeling and rehab projects into the purchase of a home and for homeowners contemplating certain remodeling projects or repairs, the FHA 203k is an indispensable financial product in today’s market. Available since the 70’s the FHA 203K program is a tried and tested FHA mortgage program for the purchase, rehabilitation, remodeling or repair of single family properties, town homes, condominiums and multi family (2-4) owner occupied properties.
Let's say you've found a home, but it's a little rough around the edges. Where can you turn? Now, you can transform any home from "as is" into "exactly as it should be" with an FHA 203(k) loan from Fitzgerald Financial.
FHA 203(k) program enables homeowners to finance additional money into their mortgage to improve or upgrade their home. With this product, you can quickly and easily tap into cash to pay for property repairs or improvements. With interest rates lower than they've been in years, now is the perfect time to take advantage of FHA's 203(k) Rehab loan. This innovative program enables you to purchase or refinance a home plus roll the cost of improvements into one monthly mortgage payment - with only one closing!
How does an FHA 203(k) loan work? The FHA 203(k) program is intended to facilitate uncomplicated renovation and improvements to a home. To be eligible, you must qualify for an FHA loan and your property must meet certain criteria, such as being owner-occupied by completion. The additional funds for renovation remain in an escrow account after closing that you can pull from to make repairs to the property.
Eligible home improvement projects With an FHA 203(k) loan, you could paint your house, get new appliances, remodel the kitchen, install new carpet, add hardwood flooring, repair or replace a leaky roof, or waterproof your basement to name a few.
Knowledge you can count on! Fitzgerald Financial is an approved FHA 203(k) lender. We have the expertise to help you get set up with the financing to upgrade your home. We'll work with you one-on-one through every step of the process. When it comes to rehabilitating a home, it's essential to partner with a lender you trust. Simply give us a call at 240-403-1856 to learn more about the FHA 203(k) Rehab loan. Now is the time to build the home of your dreams.