FHA 203K Construction Financing
203K home improvement loans has valuable information for real estate agents, home improvement contractors, homeowners and home buyers. The information is for contractors seeking more work opportunities right now. For real estate agents helping buyers close more escrows. Homeowners who would like to do home improvements and need a good financing option. Home buyers who would like to purchase a home but it needs repairs.
Many people are misled into believing that this 203K loan cuts off at $35,000 and can only be used for cosmetic non structural repairs. This simply is not true. The 203K may be used for large structural repairs as well. There are 2 versions of this loan. Make sure your Loan Agents offers the larger amount / structural repair version.
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4 responses so far ↓
1 home contractor // Nov 22, 2010 at 6:25 pm
I was doing a search for home contractor today and came across this post, FHA 203K Loan for Home Improvements | Local Contractors. Interesting to say the least.
2 USDA Home Loans | Local Contractors // Jun 19, 2011 at 2:44 pm
[...] confuse the USDA Home Loan Program with the FHA 203K Loan [...]
3 admin // Jun 19, 2011 at 2:51 pm
@USDA Home Loans | Local Contractors: USDA Home Loan program is distinctively different from the FHA 203K. Ask your local bank or lender for all the details.
4 Home improvement // Jul 18, 2011 at 11:34 am
You’ve got great insights about Home improvement, keep up the good work!
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