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Brent Kluge-203k Lender-expert-16years-baltimore-maryland's Blog

By Brent Kluge | Mortgage Broker
or Lender in Rockville, MD

FHA 203k - Refinance - Renovate - Relax

FHA 203k - Refinance - Renovate - Relax


fha 203k refinance

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!

  • Appraisal is based on the FINAL value, or ARV (After Repaired/Renovation Value)
  • ALL costs can be financed in the loan!
  • You can actually OVER improve by 10% as the MAX Loan to Value (LTV) is 110%.
  • Select your Own Contractor
  • Project Consultant will have your back throughout the process
  • Easy Terms - Easy access to your renovation funds

You can:

  • Put on an Addition - Raise the Roof
  • Repairs/Maintenance: New Roof, siding, doors, windows, gutters, exteriors
  • Maybe a new Kitchen, Bathrooms, flooring or paint.
  • Finish that lower level finally!
  • Upgrade/Update your HVAC systems!
  • Energy Efficiency Mortgage (EEM) Options available as well

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.

If you enjoy my blogs, please Click 'Subscribe'... I would greatly appreciate it.

Kluge Out.

Brent Kluge

Cell: 410-591-8300

Fax: 888-557-5271



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