best construction company in Missouri
An FHA 203(k) Loan May Be Just What You Need To Finally Make Those Home Renovations!
10/13/2017
Every homeowner can probably find something in their house that could use a little help from the best renovation company in central Missouri, but the thought of renovating your home can be an intimidating one. Most people believe that it will cost way too much to tackle, but there are options available that can get the desired work done at an affordable price. Midwest Renovation has information for you about one of these options - an FHA 203(k) Loan.
FHA 203(k) loans are backed by the federal government and typically given to buyers that are looking to remodel a house, perform upgrades, or make needed repairs. It allows you to finance up to $35,000 into your mortgage to take care of the updates that need to be made. That means you get the money you need in just one loan rather than two. This may be for your own benefit, or you may be wanting to fix up your house to sell it.
This is generally a low-interest loan, and the required down payment can be as low as 3.5%. The eligibility terms are extremely flexible, making them easier to qualify for than most loans, and if you have to live outside of the house during the renovation due to construction, up to 6 months of mortgage payments may be included in this loan. That way, you can afford to stay someplace else until you are able to move back into your newly remodeled home.
If this sounds like something that you would be interested in pursuing, the knowledgeable staff at our mid-Missouri construction company can point you in the right direction to get everything started. We are also happy to come out and offer a free inspection to give you a better idea about what repairs are a must, and which ones are cosmetic but can greatly improve the value of the house. We are fully licensed and insured, and we work with these types of loans all the time.
Midwest Renovation also works will all insurance companies if you are doing repairs that you are insured for. You can even file a claim directly from our website, making the entire process a little easier for you. With over 100 years of combined construction industry experience, our Missouri renovation company knows the ins and outs of every aspect of this business, and we're here to answer any questions you may have about it all.
Our experience just may be able to save you a lot of time and money. Give us a call at 1-866-230-5415 and find out exactly how we can help you turn your house into a home you can be proud of, all at an affordable price.
FHA 203(k) loans are backed by the federal government and typically given to buyers that are looking to remodel a house, perform upgrades, or make needed repairs. It allows you to finance up to $35,000 into your mortgage to take care of the updates that need to be made. That means you get the money you need in just one loan rather than two. This may be for your own benefit, or you may be wanting to fix up your house to sell it.
This is generally a low-interest loan, and the required down payment can be as low as 3.5%. The eligibility terms are extremely flexible, making them easier to qualify for than most loans, and if you have to live outside of the house during the renovation due to construction, up to 6 months of mortgage payments may be included in this loan. That way, you can afford to stay someplace else until you are able to move back into your newly remodeled home.
If this sounds like something that you would be interested in pursuing, the knowledgeable staff at our mid-Missouri construction company can point you in the right direction to get everything started. We are also happy to come out and offer a free inspection to give you a better idea about what repairs are a must, and which ones are cosmetic but can greatly improve the value of the house. We are fully licensed and insured, and we work with these types of loans all the time.
Midwest Renovation also works will all insurance companies if you are doing repairs that you are insured for. You can even file a claim directly from our website, making the entire process a little easier for you. With over 100 years of combined construction industry experience, our Missouri renovation company knows the ins and outs of every aspect of this business, and we're here to answer any questions you may have about it all.
Our experience just may be able to save you a lot of time and money. Give us a call at 1-866-230-5415 and find out exactly how we can help you turn your house into a home you can be proud of, all at an affordable price.
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