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In Love With a Fixer Upper, an FHA 203(k) Home Loan Could Be The Answer

By: Pando Mortgage0 comments

In love with a fixer-upper home in just the right neighborhood? No problem, an FHA 203(k) home loan could be the answer.

Did you know there is a program that will allow you to purchase a home and get funds to renovate it, all in one 30-year fixed home loan? Whether you want to buy a new-to-you home and turn it into your dream home, or your current home needs a bit of adjusting to make you fall in love with it all over again, an FHA 203(k) renovation loan can help!

Unlike a home equity line of credit (HELOC) or second mortgage, when you get an FHA 203(k) home loan, you have just one closing and one set of closing costs. With FHA 203(k), we can look at the expected worth of the home post-renovations to determine your loan amount. This means we can make sure you’ve got enough to finish the job and turn that almost perfect home into the home of your dreams.

Even better, homes that may not normally qualify for financing because their condition may be eligible if the mortgage is an FHA 203(k) loan. You may be able to get up to 110% of the “as completed” value of the home.

Don’t let a house with “good bones” get away just because it’s a bit of a fixer-upper. Find the best deal in the neighborhood and make it your own with an FHA 203(k) loan! Already own your own house? Use the 203(k) as a refinance to update that kitchen and change that carpet to hardwood — all in one loan.

Our mission at Pando Mortgage is to pair you with someone passionate, who will guide you through the mortgage financing process and be your advocate during one of life’s most important moments. We believe that the mortgage industry can do better; let us prove it to you!

Contact Pando Mortgage:
Pando Mortgage, LLC, NMLS #1585803

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