The words "as-is" and "fixer-upper" can be daunting and scary to the new homeowner and especially in today's market with so many foreclosures and abandon homes. But don't fret... The Federal Housing Administration (FHA) has several loan programs that can help out with those needed repairs and renovations.
With the help of the FHA's 203k renovation financing loan program, many homeowners can obtain the costs for such repairs right in their first mortgage. Renovation financing, through the 203k program, allows the cost of needed repairs and improvements to be done either prior or within six months after close of escrow. The loan can be used to pay for such items as new appliances, additions, smoke detectors and kitchen and bathroom remodeling to just name a few...
At a time when it is difficult to gain a loan for a home that is in such disarray, what better way to have comfort in knowing that you will have readily available funds to help you get started....
For more info, link on http://www.hud.gov/offices/hsg/sfh/203k/203kabou.cfm
or contact me directly for lender information.
This may be the way to provide YOU with your home purchase for a fixer-upper property !
Make A Difference !
Maria
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