Renovation Loan – FHA 203K
FHA 203K is a rehab loan. This will allow the cost of remodeling a property to be rolled into the loan based on its ARV (After Repair Value) as low as 3.5% down. This is a really good loan for anyone who has a fancy for fixing up a home to their own tastes. Can be as simple as paying for new appliances, or completely redoing all the cosmetics, such as paint, flooring and fixtures. It will not cover structural changes and only is available for end users who plan to live in the home, not investors.
This is a perfect solution for getting home upgrades you may not be able to afford out of pocket upfront.
Click on the image links to learn the specifics about the FHA 203k renovation loan.