FHA 203k might be the way to go!
For those homeowners that have a boatload of equity in their home and would like to capture some of it in order to add an addition on their house, the best situation would be a Home Equity Loan or even a conventional cash-out refinance (with no mortgage insurance). But the vast majority of the people in the U.S. today don't have that much equity, especially due to real estate's declining values. What are their options?
FHA 203K Refinance!
This loan is a tremendous tool for the homeowner that needs a little extra space and either doesn't want to move or CAN'T because of the declined home values...
Feel free to give me a call and ask any questions... I would be delighted to assist.
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