Monday, January 31, 2011

FHA 203 (K) Loans help buyers more foreclosed homes.

If you want to purchase a foreclosure home that needs repairs you can use this type of loan to roll repairs into the mortgage. You can purchase "as-is" property even if it's not a foreclosure and finance the repairs and remodeling expense.
The loan is based on the value of the home after construction is finsished, and as with other FHA Loans, the required  down payment is only 3.5%.
Mortgage professionals can provide more information about FHA 203 (K) loans.
For real estate information on areas in Daytona Beach area and Ormond Beach homes for sale, vacation homes, condominiums and homes for sale visit: http://www.beachhomesdaytona.com/

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