Many first time or even 2nd time Home Buyers are not aware that a 203K Loan is available if they find a house they love that needs some updating. This loan can help them update kitchens, baths, flooring and more. They should discuss the possibility of applying for and obtaining this Loan, with their Mortgage professional. This is a great product for helping Buyers purchase an existing home. It is important to research this Loan product and ask the right questions to help you make the best decision:
"The 203k loan can also work as a refinance option for homeowners who want to add basic cosmetic or structural improvements to their home. It is important to remember that neither the FHA or HUD do not actually lend the money to a borrower. Instead, the FHA “Insures” a loan that is provided by an FHA approved lenelp you make the best decision for your family"
Below are some links for helpful information:
“May we not succumb to thoughts of violence and revenge today, but rather to thoughts of mercy and compassion. We are to love our enemies that they might be returned to their right minds.” Marianne Williamson