Most of us want to give a rehab look to the homes after few years but other expenses restrict the homeowners. The FHA 203k loan lenders in Texas, Dallas help the residents to renovate their home. It can include kitchen, dining room, the addition of an extra room, renovating the exteriors etc. The owners who want to go ahead with the home renovation with FHA 203K loan they can contact Best 203k lender in Texas, Mortgagemark.com.
How to Bring Life to Old Homes with FHA 203k?
The FHA 203k loan lenders in Texas, Dallas provides finances for renovation and repairs of old houses to the borrowers. The repairs and maintenance work can include structural improvements, HVAC, remodeling of kitchens and bathrooms. The renovation programs by the Best 203k lender in Texas, Mortgagemark helps in covering the entire rehab and renovation process for your new home.
Even the FHA 203k Loans helps the owners to make their property ready with the slight makeover and cosmetic upgradation. The lenders provide the FHA 203k loan for the construction of the strong foundation of the borrower’s homes. The loan also helps the borrowers to repair and rehab their present homes to prepare them for sales. The loan amount can be given upto $35,000 by the lenders.
Why are FHA 203K Loans Deemed Necessary?
The FHA 203k loan lenders in Texas, Dallas helps the borrowers with the finances for the necessary repairs of their property right from the interiors to the exteriors. The points show the necessity of the FHA 203 k loans for borrowers:
• It is the primary product of the HUD for the rehabilitation and renovation of the single property dwellings of the homeowners.
• The down payment for this loan is 3.5% so it proves beneficial for the moderate and small income group families.
• The Mortgagemark Company helps in inspecting the foundation of the property to get a proper insight of the homeowner’s property.
• The loan also covers end number of improvement structures that involves the addition of the patios, improving the electrical wiring, floor treatment, enhancing property’s value etc.
• Other advantages of this FHA 203k loan are the people with more than 640 credit scores qualify it, lower minimum loan amount, cash in hand for major repairs, lower interest rates etc.
In nutshell, the FHA 203K loan facility by the Mortgagemark Company helps the borrowers to streamline the loan process in a smooth and easy manner.