Anna Child Group
The loan is called FHA 203K! Not only can you pay just 3.5% down and borrow for the purchase amount, but you can increase the amount borrowed to cover the upgrades you want to do to the home. So, if you don’t like the existing kitchen, you can borrow the amount to change the kitchen up all in one loan with a very low interest rate. You would need to have a decent credit score to obtain this loan but not a great score. It’s a great way to get a good price on a good home and make the home just how you want it.
As with any purchase that needs a loan, your first step is to speak with your chosen loan officer! Then give me a call! I would love to help you find the home you are looking for!