Looking for a home loan that can finance improvements? If you’ve found the ideal fixer-upper in NY, NJ, PA, FL or CT, or are interested in adding a new kitchen or bathroom to your current home, an FHA 203K Loan could be the answer. This flexible “Rehab Loan” allow you to purchase and rehabilitate a property with just one loan— saving you from the hassle and additional cost of applying for multiple loans.
This type of renovation home loan is insured by the federal government, and only issued by a select group of lenders like Jersey Mortgage Company in NJ. — we are FHA 203K Loan specialists. Our in-house loan processing and underwriting team will help put your FHA 203K Loan to work for you. You’ll be able to purchase or refinance a home mortgage, or add something special on top of it; like finishing off a basement or adding a new roof.
The 203K loan is also ideal for short sales, outdated homes, and especially foreclosures. With only 3.5% down, the advantages are very attractive. These loans typically range between $5,000 and $35,000, and can be used for 1 to 4-family dwellings as long as the owner lives in a portion of the property.
At Jersey Mortgage Company in NJ, we’re here to answer any questions you may have regarding a FHA 203K Loan, and to explain the details so you get competitive rates and a home loan package that suits your needs. We’ll walk you through the entire home loan and home buying process. Additionally, as a direct lender, we can customize terms to meet your exacting requirements while offering tremendous flexibility. No matter what your financial situation is, we’ll work with you to reach your goals.
We are a trusted, award-winning lender recognized by both the State of New Jersey Dept. of Housing and Mortgage Finance and the LendRIGHT lender group. We’ve been working alongside NY, NJ, and CT residents for years and our reputation for integrity and honesty remains as strong now as ever. We’ll go the extra mile to make sure you get a flexible, comfortable loan that meets your needs and lifestyle.