FHA 203k Streamline Loans Charlotte NC - Video
FHA 203k Streamline loans Charlotte NC are purchase and renovate loans that allow you to purchase a home and finance the renovations all into one mortgage. For instance, if I find you a Charlotte NC home for sale that your purchase for $200,000 but it needs a new kitchen and new baths, as well as paint and carpet, you can finance the renovations and the purchase price of the home together. Let's say the rehab cost is up to $35,000, the FHA 203k Streamline loans allow the purchase price of 200,000 and the renovations of 35,000 to combine for a 235,000 loan. Take into account the FHA down payment of 3.5%. In this Choice Carolina Homes YouTube video, Senior Loan Officer Jeff Trout (yes, trout like a fish) explains.
Understanding the 203k FHA Mortgage Loan Video
To find out more about FHA 203k Streamline loans, reach out to Jeff Trout. And to discover Charlotte NC homes for sale within the FHA loan limits, Call or Text me at 704-345-3400, and see current listings of homes for sale that can be bought within the FHA loan limits below. As your REALTOR®/Buyer's Agent, I will represent you in finding your next dream home. Note that the 203k is a great vehicle to purchase a foreclosure and here's why. The bank that owns the foreclosure has no desire to make repairs, yet you can get a good deal by taking it as-is. Purchase and renovate with the FHA 203k Streamline loan and enjoy!