Just because a home needs work, you don't have to rule it out as a candidate to buy. The FHA Section 203k program is specifically designed to rehabilitate and repair single-family homes. The 203k is a single mortgage loan that provides funds to purchase a home and make repairs and improvements.
In many cases, homes that would qualify for the 203k loan are in good areas but have issues more to do with aesthetics than big structural issues, for instance. The 203B program—because the home improvements are built into the loan—opens the whole market to the more home buyers.
For more information on the 203k loan program, visit www.hud.gov or www.re-buildusa.com.
At Paragon Property Group, we are always looking for new ways to help you buy the home of your dreams, whether in the greater Austin area or in the Highland Lakes areas of Marble Falls/Horseshoe Bay/Burnet. There are some good deals out there and interest rates are low, plus the home buyer incentives from the Federal Government make it a really great deal.
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