Many people are buying inexpensive foreclosures, but sometimes the homes need a lot of work and buyers just don’t have the cash to make the repairs. A 203k Renovation and Repair loan may be your answer. A 203k Mortgage is back by FHA and can be used to make all the needed rehab and repairs on your new or existing home.
203K Home Improvment loans have been around for a long time and are just now getting popular with so many people buying cheap foreclosure houses.
This news story is from Phoenix, but could just as easily be done in Orange County California. A 203k remodeling loan can be used to fix up the foreclosure house that you may be interested in buying. Talk to your mortgage broker, and then call Singer Construction for an estimate of repairs. We have years of experience working with various lenders and can get your 203k Remodeling project done quickly.
