Let the Bank Build your Dream Home, 203K Loan
Most people want to live in their dream home. Chances are, if you’re watching this, you do as well. What’s even better is that you can get a home, design it to your liking, and get instant equity on it. The way you do this is with a 203k loan. A 203k loan allows you to finance the purchase AND rehabilitation of your home.
Here are some benefits and features of a 203k loan:
-It allows you to finance the cost of the home as well as up to $35k in remodeling costs
-Low downpayment: you are allowed to put a down payment as low as 3.5%
-It gives you a chance at building a home to your liking: What’s a better dream home than one that you can build and design to your liking? With a 203k loan you can do just that.
-Building equity on the home: the improvements made will increase the value of your home, which simultaneously increases your equity because 203k homes will be appraised at the after-repair value Everyone wishes to find their dream home. A 203k loan allows you to build it to your liking while maintaining a conservative budget.