203k-Fixer Upper Loans-by FHA
By Pasadena Short Sale Agents Pasadena Short Sales
(Munson Realty Southern California Real Estate)
203k-Fixer Upper Loans-by FHA Funds for Handyman-Specials and Fixer-Uppers Purchasing a home that needs repair is often a sticky situation, because the bank won't loan you the money to purchase the house until the repairs are finished. But, the repairs can't be done until the house has been purchased. This is where 203k-Fixer Upper Loans come in. HUD's 203(k) program will help you fixer upper types with this catch 22 situation and allow you to purchase and include in the loan the funs you need to make the repairs and improvements. And like a traditional FHA loan, the down payment requirement for an owner-occupant is approximately 3.5% of the purchase price coupled with the repair costs of the property. Looking for a fixer upper and want to use the 203k-Fixer upper loans by FHA? Here are...
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