If you are looking for fixer-upper real esate in Steamboat Springs or the surrounding areas, be sure to check out the FHA 203(K) loan. Qualified buyers could take advantage of a fixer-upper home and make repairs with an FHA 203(k) rehabilitation mortgage from Bank of America.
Thanks to Kathy Arce for this information. See the contact details below to contact her... With one loan that combines the cost of buying the home with the cost of making repairs, the 203(k) could be ideal for qualified buyers interested in purchasing a home that needs repairs or updating. The 203(k) advantages include: • Qualify with as little as 3.5% down • Cash needed for repairs is built into the loan amount • Loan amount is based on the as-improved value For homes needing limited repairs, qualified buyers may opt to use the FHA Streamline 203(k), featuring all of the advantages of the 203(k), except: • Qualify with as little as 3% down • $35,000 of loan proceeds can be applied toward repair or rehabilitation • No minimum loan amount Thanks for this information: Kathy Arce
Mortgage Loan Officer at Bank of America
Direct line:
970.871.1395 Ext.
