Friday, April 22, 2011

FHA 203k loan can be used to renovate a home which is already owned!

The FHA 203k renovation loan allows an existing homeowner to finance up to $35,000 in improvements into their new FHA 203k loan which avoids the need to carry a higher interest rate 2nd mortgage, having two payments, and be subject to future rate increases of a Home Equity Line of Credit.  

FHA to the rescue!  Call me for more details and to answer your questions!

Marty Qualls, your FHA 203k Expert!

Click here for 203k existing homeowner question and answer

1 comment:

Thomas Young said...

From my experience with 203k loans, the best advice is to use a lender that offers assistance via third party with 203k processing.
This shortens the closing time by weeks. Try http://www.cfs-mortgage.com/203k for more information.