The federal government backs FHA 203(k) loans to help people buy and repair homes that need rehabilitation.
Neighborhood revitalization efforts are behind this program, which fits in well with part of our mission here at SHOP Home Mortgage to help serve the Minneapolis St. Paul community.
The FHA 203(k) program permits home buyers and homeowners to finance up to $35,000 into their mortgage to repair, improve, or upgrade their single family home.
- Home buyers and homeowners can quickly and easily tap into cash to pay for property repairs or improvements, such as those identified by a home inspector or an FHA appraiser.
- Homeowners can make property repairs, improvements, or prepare their home for sale.
- Home buyers can make their new home move-in ready by remodeling the kitchen, painting the interior or purchasing new carpet.
Our FHA specialists can answer your questions.
Contact us for more information.
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