FHA Loans Available to Help with Home Renovations

Don't move: remodel!

Are you ready to move into a bigger and better home, but like many others you find you can’t afford to sell your home right now?  Are you interested in buying a pre-foreclosure or bank-owned property, but the property has been destroyed by the previous owner?  There is funding available for you to renovate your existing home or a new home.  It is a little known loan that was established by FHA in 1996 known as the 203k rehab loan.  This loan requires 3% down and your planned renovations must be a minimum of $5000.  You have 6 months to complete the work, but if you aren’t able to get the work done in this timeframe you can file for an extension.  Contact a reputable mortgage broker who handles FHA loans to see if you qualify.

Looking for a new home?  Go to www.buytampafl.com for a list of all available homes in the Tampa/St. Petersburg area.

Tags: bank-owned, FHA, foreclosures, home renovations, Tampa Real Estate