203K Loans Philadelphia, PA
Searching for your dream home in Philadelphia can be stressful, it often seems like every property you view has something missing that is a deal breaker. Maybe you need two bathrooms and it only has one or there isn’t a home office or a modern kitchen. It can be frustrating going to view a house, thinking you’ve found your dream home only to realize that it doesn’t tick all of your boxes.
Using a 203K Loan to Get Your Dream Home in Philadelphia
A 203K loan can solve your problem. The government-backed initiative allows buyers to purchase a house and includes additional funds for renovations to the property, all in one fixed or adjustable-rate mortgage. You borrow one amount that includes the funds for the purchase of the property and the cost of your desired renovation – including building materials and labor.
Normally, Philadelphia mortgage lenders are shying away from giving out loans to properties in need of repair due to their safety and livability standards which is why a lot of buyers don’t consider them at first. But, 203K loans are government backed and give mortgage providers reassurance as renovations will be made with additional funds, making the property liveable and increasing its value.
Getting a 203k Loan in Philadelphia
How does our loan process work?
- Get in touch with our expert mortgage advisors
- Receive 203K loan options specifically tailored to your unique circumstances
- Compare the options available, looking at things like interest rates and terms
- Pick the option that best fits for you
Contact our 203K expert today and get one of the lowest interest rates in the USA – drop us an email at [email protected] or give us a call at 866-511-3331.