FHA 203(k) Loans: You may find the home of your dreams, but the home may be in need of some work. With an FHA rehab/ restoration mortgage (203k loan), you will have one loan which includes the mortgage and the cost of repairs combined!
The mortgage amount is based on the projected value of the property after the work is completed, taking into account the cost of the work. The advantage of this loan is that you can buy a home that needs a lot of work, or even minor improvements, and you still have only one mortgage payment including money for repairs.
Advanced Restoration Corporation, a DKI Member Company, is "203k contractor" that is very familiar with HUD's requirements regarding a 203k loan and executing the necessary repairs. For more information, please contact Gary Matzelle: (800) 693-6263.
Company Website: www.AdvancedRestoration.com
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