Purchase a Fixer-Upper with FHA Loan Funds
Posted by Carey Frankel on
Are you in the market to buy a home for sale in St. Johns County? Are you willing to put a little “sweat equity” into a home for a lower purchase price? If yes, then an FHA insured HUD 203(k) loan may be just the thing for you. If you qualify you could be approved for a loan equal to the selling costs, and the estimated costs of repair and remodeling.
There are many reasons why a home may be in disrepair. The age of the home, or it may have been unoccupied for a length of time causing the property to wither. Or, perhaps an owner simply ignored maintenance issues and would now rather sell than fix the property. In any case, a fixer-upper home can be a good start for an individual or family willing to invest the time and effort in a St. Johns…
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