What's New in the Mortgage Industry

Buying Foreclosures that need work and/or Rehabbing your current home (FHA 203K Rehab)

August 3rd, 2009 9:19 AM by Susan Larson

With all of the Foreclosures out there today, many of the homes have not been taken care of by the Banks and need repairs.  If you are planning on purchasing a foreclosure and the home needs repairs, you should consider an FHA 203K Rehab loan.  Or maybe there are just a few things you don't like about the home, but if you had the money to rehab it, you would purchase it. This loan is used to purchase and rehab the property, all in one loan.  This is also a great loan if you wish to fix up the house you currently own.  This program is only available to Owner Occupied residences, 1-4 Family.  Please visit the link on our website: Foreclosure and/or Rehab for more detailed information and links to FHA"s website or call us for more information. 

We have over 24 years experience with the FHA 203K Rehab loan. 


Posted in:General
Posted by Susan Larson on August 3rd, 2009 9:19 AM

Community Mortgage & Processing Corp.

312 W. Green Meadows Blvd.
Streamwood, IL 60107