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The Rich Kemper Team

We don't work from 9 to 5. We work from start to close!

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(813) 777-5332  getrichquick2@aol.com
Ranked in Top 100 Tampa Bay Realtors

FHA 203K LOAN – IT MAY BE JUST WHAT YOU NEED!

October 15, 2014 By Richard Kemper Leave a Comment

FHA 203K LOAN

You don’t hear much about the FHA 203K loan so I thought I would shed a little light on it for us. There are lots of run down homes for sale out there. As a realtor, I still see lots of REO’s or Bank Owned Properties out there. The problem for most buyers though, is having the cash on hand after the purchase to make all the repairs and renovations needed. You can also use the FHA 203K loan if you are buying a home that may be in good shape except it doesn’t have the pool you wanted. Rich_pool_homes_1349217789230This is why they have created the FHA 203K loan. This type of loan allows you to purchase the home and include the cost of the repairs/renovations. There are a few requirements and hoops you have to jump through and the loan process takes a bit longer than normal, but well worth your efforts. The biggest requirement is that it has to be your primary residence. Then of course, you have to have contractors provide your lender with copies of their estimates. Bank of America has a great webpage and video devoted to this type of loan which explains it in more detail. To learn more click on the link below.

 http://mortgage.bankofamerica.com/203k/?cm_mmc=cre-generalservicing-_-vanity-_-mg01vn000m_203k-_-090911

Filed Under: Military, News, Uncategorized Tagged With: FHA 203K Loan, Renovation Loan

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The Rich Kemper Team has 25 years of experience in the real estate industry and ranks as one of the Top 100 Realtors in the Tampa area. Both Rich and his son Josh have lived in the Tampa area since 1999 and have an in depth knowledge of the area.

Rich Kemper is your local Remax real estate agent serving the Tampa areaThe Rich Kemper Team is devoted to helping buyers and sellers in the Tampa area. Rich and Josh Kemper are Remax agents and are rated in the Top 100 Realtors® in the Tampa area. Offices Brandon - Riverview - St. Pete.

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