Makeover HUD Consulting - Jerry Adamson - Nothing Needed to be Done!  Wants and Wishes Only! - New Palestine, IN - FHA 203k


Consultant - Jerry Adamson #A1162 - Makeover Consulting and Inspections

Contractor - Bill Ingram - B and I Construction

Lender - Sally Smith - Rouff Mortgage

Realtor - Hellena Robinett - Century 21 Scheetz

The FHA 203k is not always used for problems, issues, and a run-down home.  There are times when someone just wants some updates!  Here is a great example of a home that didn’t NEED anything but the borrower WANTED a lot.  All new kitchen, bathrooms, laundry room, and flooring throughout the home really gave this house a pop and a splash of NEW!

Why would someone buy a perfectly good house and then roll $60,000 into the mortgage?  Some people prefer to keep their cash in their pocket rather than shelling it all out on a reno.  Using the 203k, this borrower was able to pay 3.5% of the total project rather than the full cost!  It is a lot easier to pay for a renovation over 30 years than a few weeks!

Reno Cost $59,000

Drywall - $900

Closets - $3,500

Finished Flooring - $19,000

Bath Accessories - $4,500

Plumbing - $2,000

Electrical - $700

Cabinets and Countertops - $15,000

Appliances - $6,000

Change Order - $5,000

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