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.