THE MAKEOVER BLOG
Renovation stories, useful ideas, and perspectives to help you see what comes next.
Realty
203k offers can scare sellers because they take longer to close. Here is exactly how to make your offer strong and competitive while using a 203k loan. First. Get fully prepared before you make the offer. Have your exper…
Read article : Making strong offers on 203k homes without losing the dealRealty
When you walk into a potential fixer-upper. You need to know within minutes whether it is worth pursuing with a 203k loan. Here is a fast and effective way to size up any house. Start with the big picture. Stand back and…
Read article : 203k's - How to quickly evaluate a house’s renovation potentialRealty
Finding the right fixer-upper can be the difference between a stressful project and your dream family home. Here are the smartest ways to search. Start with the right mindset. Look for houses that are dated or need cosme…
Read article : 203k's - Smart search strategies for fixer-uppers that families loveRealty
Not every house can be fixed up with a 203k loan. Knowing what qualifies can save you a lot of time and disappointment when house hunting. Here is what does qualify: Single-family homes are the most common and easiest to…
Read article : 203k's - What types of properties actually qualify (and which ones don’t)Realty
If the after-repair value (ARV) comes in lower than expected on a 203k loan, the lender still uses the ARV to set your total financing amount. A low ARV can shrink what you can borrow, but you have solid options to save…
Read article : What If the Appraised Value Comes in Low on a 203k? (3 Ways to Fix It!) 📉🏠Realty
So, you're ready to ditch that boring apartment and finally own a place to call your own. But most homes need a little TLC, right? That's where the FHA 203(k) loan comes in. It's like a magic wand for your homeownership…
Read article : Types of Property you can buy using the FHA 203k or other Renovation LoanRealty
You're exactly right! That's a common misconception, but FHA 203k loans are not just for first-time homebuyers. Here's why non-first-time homebuyers can benefit from this program: Renovate your current home: If you al…
Read article : Myth #10 about the FHA 203k: It's Only for First-Time HomebuyersRealty
There's some truth to this one. FHA 203k loans typically do have slightly higher interest rates compared to standard FHA loans. Here's why: Increased Lender Risk: From the lender's perspective, there's more inherent r…
Read article : Myth #9 about the FHA 203k: 203k Loans Come with High Interest RatesRealty
You're absolutely right! Contrary to the myth, you actually can refinance with an FHA 203k loan. This can be a valuable option for homeowners who already own a property that needs renovations. Here's how it works: Ref…
Read article : Myth #8 about the FHA 203k: You Can't Refinance with a 203k Loan
