FHA 203K Loan Can Purhase Your Dream Home in Woodbridge, VA

Have you been searching for a home in the Woodbridge VA area for the last six months? But you have not been able to win a contract because of investors, multiple bids, or conventional financing? Everybody wants the pretty homes or the prices are so low investors are offering cash and snapping those properties immediately.

Well what about those listings that were "ugly homes" or priced too high for an investor but  too "ugly" for you and many other buyers because of the outdated kitchen, dank carpet, and the missing appliances. Or what about the homes you passed on because your Realtor already told you it would not pass FHA Inspection because of the leaking roof or non-functioning heating system and missing pipes.

With the FHA 203K Streamline Rehab Loan you can purchase your almost "Dream Home"  in Woodbridge VA...

Kitchen upgrades

This loan will allow you to update that kitchen and bathroom, buy the stainless steel appliances, or change the carpet and paint to your liking. So remember the home in the perfect Woodbridge  neighborhood(great for the kids) that you passed on because the basement was not finished or it had the ancient kitchen cabinets,  could be your almost dream home  with the FHA 203K Rehab Loan. Imagine that same house with a little TLC, granite counter tops, new cabinets, and those stainless steel appliances.

 

The FHA 203K Streamline Rehab Loan is perfect for the buyer not scared of a "little" renovation project and upgrades, has the vision to see the potential in a property, and wants to create their almost dream home. Buyers need three and half percent down-payment and a minimum credit score of 620. The down payment can be a gift, loan from retirement funds, tax return, or a few dollars that you saved along the way. The FHA maximum loan limit is $729, 950 in this area.

 

Examples of repairs are listed below:

  • Repair and replace roof, gutters, or downspouts
  • Repair or replace heating and air condition systems and ventilation
  • Repair, replace, or upgrade electrical and plumbing systems
  • Finish or remodel unfinished basements
  • Upgrade, replace, or repair flooring and carpet
  • Repair or replace windows, storm doors, and other weatherization items

 

Not every lender is qualified and has experience with this type of financing. Call me, your local Woodbridge, VA lender at 703-497-3936 to get pre-approved in twenty four hours or less. So get ready to purchase the home of your dreams almost in Woodbridge, VA. Stainless steel, new windows, and updated heating systems are waiting for you with the FHA 203K Rehab Loan. Turn that Ugly  Forecllused Home into your "Dream Home" in Woodbridge VA.

Contact Markita Aldridge-Woods at (703) 929-2274 or via email for custom tailored mortgage solutions.

 

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Comment balloon 1 commentMarkita Woods NMLS#196099 • February 06 2010 07:24AM

Comments

Thanks for sharing. 203(k) is an excellent product for REO properties that need repairs or renovation.

Posted by Roy Kelley, Roy and Dolores Kelley Photographs (Realty Group Referrals) almost 8 years ago

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