Florida Foreclosures + FHA 203k Loan = Marriage Made In Heaven

An FHA 203k Loan Can Make Florida Foreclosures Your Dream Home

Getting a great deal on a Florida foreclosures isn’t always as easy as you may think.  The best values on Florida foreclosures are usually the Florida homes that are in less than perfect condition to really distressed.  Many Florida foreclosures haven’t had any maintenance for a couple of years and need some work to major renovation to  become habitable again.

It’s not unusual for Florida foreclosures to need a new roof, plumbing or electrical repairs, structural repair or even kitchen and bathroom replacement.  Frequently, disgruntled home owners damage the home in anger on the way out-the-door.  Others rip out kitchen cabinets, bathroom fixtures, A/C units, water heaters and anything else they can take with them to reuse or sell.  Florida foreclosures in this shape, require all cash buyers, as no lender will make a loan on a property that poses a health or safety risk.

Now, you can level the playing field with an FHA 203k Renovation Loan. This Florida home loan is a great solution for those buying Florida foreclosures and needing financing to renovate their Florida homes. An FHA 203k Renovation loan allows a buyer to purchase Florida foreclosures and get a Florida home loan that will  finance the necessary repairs, renovations, or even add-on to their home.

Home Buyers looking for a great deal on Florida foreclosures, should consider an FHA 203k Renovation loan. Imagine, finding that perfect “diamond in the rough”, and turning it into a brilliant gem.  An FHA 203k loan and a little imagination can make Florida foreclosures a terrific value and choice with only a 3.5% down payment required.  You might just find Florida foreclosures + an FHA 203k loan = a marriage made in heaven.

Contact Fort Lauderdale mortgage broker, Harvey Collier, for all your FHA 203k Renovation loan needs.