203k loans in the Twin Cities
What is a 203K loan and why should you care?
A 203k loan lets homeowners and buyers finance the purchase, remodel or even refinance if they have an existing home loan through a single mortgage. Simply this, want to buy a home and remodel the kitchen right away, want to roll it into the mortgage, with the FHA 203K loan you can.
For immediate needs there is also a Streamlined 203K loan for handyman specials and fixer uppers. And borrowers also have an option with the HUD Title 1 Home Improvement Loan Program. These programs can help you finance at a better rate and take money out for improvements whether you own or are buying, payments to the contractors are secure so Home Improvement Contractors like these loans too.
You, as a homeowner can contact me for information or click on the links imbedded in this article.
Not to be outdone Fannie Mae has a program called Homepath for refinancing and renovations. Fannie Mae is the huge mortgage company that has been in the news so much this past year.