203(k)
Working closely with real estate buyers and lenders, RealtyClean helps interested parties take advantage of the FHA 203(k) loan program. The 203(k) loan was designed to assist residential buyers in obtaining the much needed funds to rehabilitate property prior to move-in.
The program, aimed at revitalizing neighborhoods nationwide and expanding homeownership opportunities, covers owner-occupied residences with one to four units, single family homes, condominiums, planned unit developments (PUDs) and manufactured homes that fall within HUD guidelines.
203(k) funds can help in financing property repairs and improvements including:
- Structural reconstruction
- Health and safety issues
- Energy conservation improvements
- Remodeling and modernization
- Plumbing, electrical and HVAC
- Landscaping, drainage and site improvements
- Accessibility alterations for disabled tenants
- Roofing and gutters
- Septic, well and water certification
- Insect and moisture damage
At RealtyClean, we understand program requirements, able to quickly determine whether or not a borrower or a residence is eligible for 203(k) benefits, arranging rehabilitation construction and property close within the required time frame, and ensuring participants stay in complete compliance with HUD’s minimum property standards at all times. We work with some of today’s top lenders to help them use FHA 203(k) benefits to regenerate communities, support customers and boost their bottom line.
Contact RealtyClean today to learn more.