A 203k is a type of loan that you use to buy a house and fix it up. Usually the property is in disrepair and the lender will not finance a house that is not safe sound and secure. The 203k loan allows you to finance the purchase and also the fixup costs with a minimun down payment (3.5%).
You can finance anything kind of improvements except, additions,and the building of swimming pools. For example you can do paint, plumbing, electrical, siding, appliances, carpet, cabinets, roof etc etc
For more information go to my website and click on the link at the botttom.
Cornerstone Lending Inc
Southampton Pa 18966
215 953 0800
cell 267 992 7276
VOTED BEST IN BUCKS 2010 & 2012
NMLS ID 143960