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What is an FHA 203(k) rehab loan
An FHA 203(k) loan allows homebuyers to finance repair/improvement money into their new mortgage. This loan option allows upgrades such as energy efficient improvements, replacement of existing flooring, countertops, windows, trim and doors, interior/exterior painting, appliances, roofing, siding, heating and cooling and many other upgrades. It is a perfect solution to allow you to customize an existing home to an almost newly built home. No longer do you have to accept the color of the past homeowner’s walls, floors and countertops. Or it allows you to just simply take and older home and make it as energy efficient as a new home.
Who should use and FHA 203(k) rehab loan
In today’s real estate market finding a home in perfect condition can be very difficult. By utilizing the FHA 203(k) loan, buyers have many more purchase options available to them. Your Realtor can find you many deals that are worth looking into. Features of an existing home that may not appeal to you can now be easily addressed, changed and an older home looks new again with your personal decorating touches. That “diamond in the rough” can now easily become your gem!
Why choose Stonecliff Homes—an experienced FHA 203(k) contractor
Stonecliff Homes is one of the most experienced 203(k) rehab loan contractors in central Ohio. We provide our clients the highest quality of products and service at a very affordable price point. Stonecliff Homes has completed both full documentation and streamlined FHA 203(k) rehab loan projects. We have a working knowledge of all required documentation required by your FHA 203(k) lender. This experience allows us to provide a very quick turnaround time on inspecting your property and also in providing you with a detailed scope of work and a cost estimate written for the homeowner, Realtor, lender and FHA consultant.
In addition to providing fast and accurate cost estimates to get you to closing quicker, we also schedule very tight construction time frames in which your renovation work will be completed after your closing. We have an open line of communication with all of our clients before, during and after construction. Providing you with a smooth renovation process. Stonecliff Homes experience as a 203(k) rehab loan contractor allows you to close quicker and can save you time and money once you own your home.
