Share a few details and we can email you an easy to follow estimate with rate, monthly payment and low down.
Choose the low down payment option, say 5% or 10% down, that best fits your home purchase.
Once application is pre-approved you can work with your realtor to find a home to purchase.
Takes two minutes. Won't affect your credit score.
The FHA (U.S. Federal Housing Authority) 203k renovation loan program provides funds for both the purchase and renovation or improvements of a home combined into one mortgage loan. Once the purchase of the home is closed, renovation funds are held in escrow to pay for pre-determined renovation or improvements done by approved contractors. Down payment, credit qualification, loan limits and other requirements are the same as standard FHA loans.
The FHA sets the maximum loan amount according to sales prices in a county. Check with our Renovation Specialist.
203k loans provide benefits that normal mortgage cannot. Borrowers combining renovation cost and home loan into on single transaction is the biggest benefit, but a 203k allow you to choose a home in your desired location and make improvements to your tastes.
-The Standard 203k is intended for more complicated projects that involve structural changes, such as room additions, exterior grading and landscaping, or renovation that would prohibit you from occupying the residence. A Standard 203k is also used if your project requires engineering or architectural drawings and inspections. -The Streamlined 203k is designed for less extensive improvements and for projects that will not exceed a total of $35,000 in renovation and related expenses. This version does not require the use of a consultant, architect, and engineer or as many inspections.
Yes, we offer a Conventional renovation loan program too. This flexible loan allows borrowers to make upgrades including luxury home improvements, like a swimming pool.
Get pre-approved. Identify a home. Plan your renovations. Select licensed contractor. Complete loan paperwork. Fund your loan. Start your project.
Speed matters. Which is why you can start your estimate today. Without affecting your credit score.
Find My 203kTMWon't affect your credit score.