AS A FORST TIME BUYER, IS THERE ANY PROGRAMS THAT CAN HELP IN CASE THE HOUSE NEEDS REPAIRS ?

Asked by Scooby_dooby_snax, Rio Rico, AZ Mon Apr 4, 2011

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Laura Feghali, Agent, Stamford, CT
Mon Apr 4, 2011
Hello Scooby_dooby_snax,
Yes, there is a loan program called a 203K which is a type of mortgage that includes money for construction repairs. Here is a link from the HUD site with additional information:

http://portal.hud.gov/hudportal/HUD?src=/program_offices/hou…

Also, I suggest that you contact a mortgage broker to learn more about it and to determine if you and the property qualify for this type of loan.
Good luck!

Laura Feghali
Prudential Connecticut Realty
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