The 203k is a mortgage loan option from the FHA that’s meant to help buyers purchase an old or damaged home and repair it. 203k loans cover the costs of repairing decks, patios, kitchens, bathrooms, plumbing, flooring, siding, heating and air conditioning. Plus, the down payment requirements are low.
This loan also applies to current homeowners and can be used to refinance as well. American Lending Solutions can help you find out if your property qualifies and can assist you in applying for a 203k loan.