Never Fear, FHA 203K is here!
Did you find that “fixer-upper” but not really know how to “fix” things up?
Highlights of the Program:
- Get a government loan that covers the purchase price of the home as well as extra money for the hired contractors to “fix-er up”
- Can be used to purchase a new home, or refinancing and update your current one
- Rates are higher than traditional FHA loans or conventional loans (4.75% as of 1/10/11) but still historically good. Typically, plan on .5% to .75% increase on the interest rate for this loan
- Require licensed and insured contractors, so you know the work will get done right
- Allows you to move into a nice home for a good price. Rather than a crappy home for a good price.
For more information on this loan, go to the source directly. CLICK HERE
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