> FHA 203k & Conventional Renovation Loans
FHA 203k & Conventional Renovation Loans
The "FHA 203k - Substantially Renovated Properties" loan is a government insured mortgage designed for the rehabilitation and repair of single family properties.
It provides Universal Lending Home Loans an opportunity to demonstrate a commitment to lend in certain communities and increases homeownership. It can revitalize the community by reducing the vacancy rate and repairing dilapidated homes.
- 3 loans in 1 (acquire, rehab, permanent)
- Rehab fund can be $5,000 to $30,000
- Single Family and 2-4 units
- Perfect for bank owned, short sales, Foreclosures or homes in need of rehab or upgrade. (i.e. carpet, paint, cabinets, bathrooms)
- Usable on existing homes or for a new purchase
- All qualified borrowers without the ability/desire to pay cash for improvements.
- Properties that don’t fit the “dream home” picture but can be with renovations
- Owner occupied required
- Conventional Homestyle Renovation Loan
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