203(k) Rehabilitation Loan

[After Crescent]

We added a blog about the relatively unknown 203(k) Rehabilitation Loan to our CREFCO blog here.

Here is an excerpt:

Under a 203(k) FHA loan, all repair, improvement, and upgrade costs can be built directly into the buyer’s purchase loan. Performing the right type of improvements (kitchen, bathroom, landscaping, new flooring, etc) can significantly raise the value of the home, building equity for the home owner. These improvements can also be used to install energy-efficient components, such as windows and insulation, which will create monthly savings on energy bills, helping to offset monthly mortgage payments. The only things the program can’t be used to install are luxury items, such as swimming pools.

Feel free to discuss this loan, ask us any questions, offer advice for others, etc.

[lovely03]

Rehabilitation loans are required to restore, rebuild, or improve the structure of the house.



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International medical insurance

[After Crescent]

Yup. 

And with a 203(k) FHA loan, the cost of those expenses can be rolled into your loan.