203K Loans in Newark, NJ

Sometimes your home gets to a place where it could use a little love. Maybe you are looking to renovate and give it a facelift, add or change rooms to accommodate your changing family needs, or you may have even brought a fixer-upper and need to do some home renovations to utilize its full potential and add to its value.

If you are thinking about purchasing or refinancing a home in Newark, New Jersey an FHA 203K loan is a great option. 203K loans are a type of FHA loan that not only includes the price of the home but additional funds to cover the cost of renovation. This way you can get your dream home in Newark by borrowing money based on its purchase price plus the renovation cost so you can get all the renovations you need, all-inclusive in one loan.

Renovation Loans for your Newark Property

There are several great properties on the market in New Jersey that you may have been looking at that require a little bit of TLC. You may have originally thought that it was out of your budget or didn’t tick all your boxes, but with a 203K loan, you have the potential to make it your dream home in the perfect Newark neighborhood. For example, maybe you found a property in the right in Newark, with good schools, a fantastic garden but it doesn’t have that home office you need. With a 203K loan, you can take this house that’s almost perfect and renovate it to tick that final box.  

FHA 203K mortgage loans have been an option for home buyers for some time, Tom Smith specializes in 203k loans for borrowers in New Jersey who want to achieve not only homeownership but their dream home.

203K Loan Expert in Newark NJ

Tom Smith has the two most important ingredients in a Renovation project, Expertise and the Lowest interest rates available. Tom has assisted numerous New Jersey homebuyers in evaluating their needs for repairs and renovations, and then in creating a sensible and thought out loan plan that caters to their individual needs. Almost anyone that buys or refinances their primary residence has the possibility of being eligible for a 203K loan program in New Jersey.

Want to learn more about how you can use a 203K loan to renovate your dream home? Call Tom Smith at (609) 582-2220 today!