{"id":16698,"date":"2010-12-17T06:26:35","date_gmt":"2010-12-17T06:26:35","guid":{"rendered":"http:\/\/203krehabnow.com\/?p=16698"},"modified":"2010-12-17T06:26:35","modified_gmt":"2010-12-17T06:26:35","slug":"benefits-of-doing-a-203k-rehab-loan","status":"publish","type":"post","link":"https:\/\/dev203k.orbitwebx.com\/dev203k\/benefits-of-doing-a-203k-rehab-loan\/","title":{"rendered":"Benefits Of Doing A 203K Rehab Loan"},"content":{"rendered":"

\"\"<\/p>\n

What are some of the benefits of doing A 203K rehab Loan in Texas<\/a>?\u00a0 Through the years, the FHA loan program has helped potential buyers achieve their goal of home ownership with reasonable mortgage rates, low down payment and relaxed credit requirements.<\/p>\n

The FHA 203k Rehab loan <\/a>follows all of these guidelines but not only allows for the purchase of a home it allows for the rehab and\/or customization of the new home.<\/p>\n

The FHA 203k loan <\/a>is a very popular FHA home loan<\/a>. The financing for this loan will include the purchase price as well as the improvements you are either required to do to be able to live in the home or that you want to do, such as upgrade the kitchen, bathroom, etc.<\/p>\n

This is also a great loan program for agents trying to sell homes that need repair<\/a>. Buyers will have an option to complete those repairs and upgrades without a large upfront financial commitment.<\/p>\n

Think of this as a one-time close construction<\/strong> loan. At closing the seller receives their money and the rest is put into an escrow account for you to use for the rehab.<\/p>\n

Below are some of the other advantages<\/a> of this program:<\/strong><\/p>\n

Savings:<\/strong> The 203k rehab loan allows you to hang on to your savings when fixing up a broken-down house. Repairs on a house can be very expensive. If you rely on your savings to get you through, you could run out of money quickly. What is worse, you might not be able to resell the house and then your savings are depleted. With a 203k loan plan you can finance the repairs.<\/p>\n

Low interest:<\/strong> When you deal with the FHA, you will get a better than average interest rate on the money you need to borrow. Many rehab loans in the commercial marketplace can be very expensive. With a 203k rehab loan, you know that you will be getting a fair interest rate.<\/p>\n

Great deals:<\/strong> Rehab loans are designed for “fixer-uppers.\u201d Therefore, this loan will allow you to qualify for a home purchase that many other programs would not. You can get a house at a lower price than you normally would be able to on the open market.<\/p>\n

Make the home your own:<\/strong> You may walk into an existing home and fully customize it for your own needs. Upgrading to hardwood floors from carpet isn\u2019t a problem, just as an example. You may even, in some instances, add square footage.<\/p>\n

Advantage to Listing Agents and Individual Sellers:<\/strong> Agents can now move homes that at one point would require a cash buyer.\u00a0 Also sellers can market their homes in the “as is” condition knowing that buyers have a way to finance the repairs.<\/p>\n

Contact me <\/a>today for more details.<\/p>\n","protected":false},"excerpt":{"rendered":"

Through the years, the FHA loan program has helped potential buyers achieve their goal of home ownership with reasonable mortgage rates, low down payment and relaxed credit requirements.<\/p>\n

The FHA 203k Rehab loan follows all of these guidelines but not only allows for the purchase of a home it allows for the rehab and\/or customization of the new home.<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[58],"tags":[71],"class_list":["post-16698","post","type-post","status-publish","format-standard","hentry","category-mortgage","tag-fha-203k"],"acf":[],"yoast_head":"\nBenefits Of Doing A 203K Rehab Loan<\/title>\n<meta name=\"description\" content=\"The FHA 203k Rehab loan follows FHA guidelines but not only allows for the purchase of a home it allows for the rehab and\/or customization of the new home.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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