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Answers (1)
- Suzie Marquardt, "NevadaShortSales"
- Contributions:91
Uncle Orville
The FHA 203 K loan lets you purchase and reovate th property. The loan value is based on home value including renovations.. You have to get bids on the work to be done and of course use licensed contractors. The program is run pretty tightly. You Qualify with 3.5% down unless there has been recent changes. Credit score of 640 or higher. No other outstanding FHA loans. You Do Not have to be a first time buyer. FHA will make sure the improvements/repairs will be made with the money. So there is a plan that can help with paint and carpet and repairs. I hope this will help.
Thank You
Suzie Marquardt
The FHA 203 K loan lets you purchase and reovate th property. The loan value is based on home value including renovations.. You have to get bids on the work to be done and of course use licensed contractors. The program is run pretty tightly. You Qualify with 3.5% down unless there has been recent changes. Credit score of 640 or higher. No other outstanding FHA loans. You Do Not have to be a first time buyer. FHA will make sure the improvements/repairs will be made with the money. So there is a plan that can help with paint and carpet and repairs. I hope this will help.
Thank You
Suzie Marquardt
Additional needed items
Example: The home does not include any appliances. Is there a way to fund the purchase of appliances?
Or any other wanted (but not necessarily needed) items (such as repainting)
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