For Realtors
If you are a realtor looking for information on 203(k) home loans go to 203(k) for Realtors
Go from Shabby to Showtime with our 203(k) Team!
So you found the perfect house at a super price, but it needs a little love? Take it from shabby to showtime with our 203k team.
Most of us don't have the extra cash laying around to do the fixing that it takes to make our dream home a reality. And most mortgages won't let you borrow extra money to do the work.
What do you do?
Get the fix-up funds rolled into your mortgage with an FHA 203k mortgage. The 203k lets you purchase a property, or even refinance the home you are living in now, including the cost of making the repairs and improvements. You can do this all in one mortgage as long as the cost of the home, plus the cost of improvements, don't exceed the After Repair Value (ARV) of the home.
The 203k loan program is available only through approved lenders nationwide, and is available to persons wanting to occupy the home. As a 203k contractor approved by Wells Fargo, one of the largest mortgage lenders in the country, Great American Remodeling Co. is a licensed Minnesota building contractor with tons of 203(k) and government housing program experience. They can be a big key to success on your home fix-up team.