Georgia FHA 203K Loans

ONE Loan, ONE Closing all with credit qualification that is much less strict than conventional financing and a 3.5% Payment. That is FHA 203K. 

The most flexible and easy to qualify easy to qualify for of all the renovation loans on the market, 203K Loans are being used all across Georgia to purchase and renovate distressed property.

For those current homeowner’s who lack the equity to do a traditional cash-out refinance, you can use FHA 203K loans to refinance and renovate as well! Since the loan is based on After Repair Value, you’ll have more room to complete the renovation

How Can FHA 203K Loans Be Used? FHA 203K renovation loans are used primarily in two different ways:

• Purchase & Renovate
• Refinance & Renovate

If you are looking to purchase a foreclosure that needs a little TLC you’ll have two sets of repair; required by FHA and wishlist items. FHA has strict property condition guidelines, all major issues with the property must be addressed in the renovation, this is your required repair.

Your foreclosure may also have items that are in good working order and are fine by FHA guidelines. These items can still be replaced, repaired or upgraded, these are your wish list items.

FHA 203K Loans are extremely versatile and will allow for many different types of repairs and upgrades. Here are just a few of the ways you can use a FHA 203K Renovation loan;

• Appliances – Washer / Dryer. Stove, Fridge, Microwave
• Flooring – Get rid of that old carpet and lay some beautiful new hardwoods
• Roofs, Gutters & Downspouts – Roof leaking? That is an FHA required repair
• Kitchen Remodel – Dated kitchen? Renovate it!
• Decks, Patios & Porches – Create that outdoor living area you always wanted
• Energy Efficient Improvements – One of the smartest renovations you can make, save MONEY every month you own
• Doors & Windows – Whether it’s for beauty, energy efficiency or BOTH!
• Paint – Inside or out, a quick and affordable way to freshen up any home.