203K Loans New Jersey
FHA 203K Loans are a government-backed federal initiative that can make your dreams of a perfect family home in New Jersey come true. 203K Loans give New Jersey buyers the ability to buy damaged or fixer-upper properties and have the funding to complete any necessary repairs and renovations to make the house a dream home.
Whether you need a new bathroom, a new roof, to fix electrics or convert a garage, with a 203K Loan you can make renovations to the property that not only make it more appealing to live in but will increase its overall value and make it a better investment.
Time to Improve Your NJ Home
The 203K Loan covers not only the price of the property but any additional funds needed for renovations and rolls it all into one mortgage repayment so you don’t have to take out a home equity loan or dip into your savings.
Benefits of getting a 203K Loan:
- Make improvements to a house that doesn’t fit all your criteria but is in your desired location
- Renovate without draining your savings
- Make your new house your home – put your stamp on the property and incorporate your own style rather than living with the previous owner’s choices.
- Fix any broken elements of the house such as windows, roofs, electrics or plumbing
- Get a bigger house for your money – foreclosures are still a big part of the real estate economy and as a buyer, you can take advantage of the reduced house price
- All your payments are in one mortgage that’s rolled together giving you funds to repair a property at a low rate.
Whether you’re a seasoned buyer or this is your first step onto the property ladder our expert advisors can lay out all the loan options available to you and help steer you in the direction that is best for your unique situation.