Renovation
FHA203K & Home Renovation Loans
Simply put—buy a home and remodel it with the same loan. Purchase and renovation loans require three professionals to make sure you navigate this product and close properly: a solid HUD consultant, a great contractor, and a licensed Loan Officer with a company that knows how to close this product.
Purchase and Renovate Loan Features & Benefits
· Maximum loan amount is subject to county loan limits
· 3.5% down payment
· Lower credit scores accepted
· Minimum reserves
· Upfront and monthly Mortgage Insurance premiums
· 100% of the down payment can come from a gift