What happens when you find the home of your dreams - or, at least, it has the potential to be the home of your dreams - but it needs some repairs or modernization? The good news is that a FHA 203(k) loan provides financing for the mortgage, plus additional financing for renovation costs.
The FHA 203(k) loan may cover many large projects, such as remodeling a kitchen or adding a patio. However, it doesn't cover luxury renovations, such as adding a pool or a basketball court.
Other eligible renovations include, but are not limited to:
Additions to the home
Adding heating or air conditioning systems
Ready to take on your fixer-upper? Let us help you finance your soon-to-be dream home today.