Advantages and Disadvantages of FHA 203K Rehab Loan
Drew Mortgage Associates
âž” The FHA 203k Rehab Loan is best for borrowers looking for home renovations. Here is important information about this loan.
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âž” Home renovations require a loan. Acquiring a loan can often delay the renovation process. With an increasing demand, the government has formed different mortgage programs for homeowners.
Contact us: 1-877-949-3739
www.drewmortgage.com
âž” The 203k rehab loan is a popular program introduced by the Federal Housing Administration. It's specially designed for those who need a loan for renovations. However, before you make any further decisions, it's important to learn the advantages and disadvantages of FHA Rehab Loans.
Contact us: 1-877-949-3739
www.drewmortgage.com
Advantages of FHA 203K Rehab Loan ➢ Qualification is easy It covers all kinds of home renovations or repairs that don't require major alterations Lower interest rates It’s a time and money saving process for borrowers A secure home loan program for both lenders and borrowers Contact us: 1-877-949-3739
www.drewmortgage.com
Disadvantages of FHA 203K Rehab Loan ➢ You need to hire a 203k expert for the application process Minimum down payment is needed This loan is not open to investors Extra paperwork is required
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➢ Additional fees ➢ Process is bit longer than conventional loan ➢ For eligibility, your home should be at least one year old
Contact us: 1-877-949-3739
www.drewmortgage.com
Read more description about advantages & disadvantages of an FHA 203K Rehab Loan Visithttps://www.drewmortgage.com/advantages-and-disadvantagesof-fha-203k-rehab-loan/
Contact us: 1-877-949-3739
www.drewmortgage.com
DREW MORTGAGE BRANCH OFFICES: Drew Mortgage Associates 196 Boston Turnpike Road Shrewsbury, MA 01545 Phone: 508-753-1656 Website: https://www.drewmortgage.com/
Peabody Mortgage Lenders
Boston Mortgage Lenders
1 Mt Pleasant Drive Peabody, MA 01960 Phone: (978) 750-1080
232 Commercial St Boston, MA 02109 Phone: (617) 523-3060
Contact us: 1-877-949-3739
www.drewmortgage.com