|We can help you get your own fixer upper!|
In the past it was a challenge to get financing for a home that was in less than stellar condition. The lender's appraisers would never qualify a home for a mortgage that needed major repairs, so if you were looking at a fixer-upper, you often had to pay cash or find non-traditional financing. But my how things have changed!
The FHA no offers two "fixer-upper" loan products, called the FHA 203K and FHA 203K Streamlined. The standard 203K is given for properties that need structural repairs such as moving walls or replacing a roof. The Streamlined 203K is for homes that don't need structural repairs, like new floor coverings or new appliances. Other items the standard 203K may cover are:
- Kitchen Remodels
- Additions (even including a second story)
To find out more information on these exciting loan products and how the Foster Beckman Group can help you get into a fixer-upper, please contact Mary Kay at 702.686.2695.