FHA 203k Loans

FHA 203k Loans in Idaho, Utah and Wyoming

For fixer-upper homes, FHA 203k loans are designed to help borrowers by providing one loan that covers both purchase and renovation. FHA 203k loans are an option for purchasing or refinancing a primary residence that needs renovation or repairs, such as a new roof or siding, a new garage or porch, new windows, updates to wiring or plumbing, new appliances, energy conservation improvements, and even nonstructural updates like painting and landscaping.

The property and borrower must meet the requirements set by the Federal Housing Administration, and a licensed contractor must perform the repairs. As a borrower, you will need to provide a detailed proposal of the work you plan to do on the home. The loan may include funds for temporary housing while improvements are being made.

Getting a home loan in Idaho, Utah, or Wyoming may be more affordable and easier than you think!

Benefits

  • Single loan that covers both purchase and repairs
  • Down payments as low as 3.5%
  • Purchase a fixer-upper that would otherwise be unaffordable
  • Borrow at least $5,000 and up to 110% of the home’s projected value after renovation

If you're interested in buying a home in Idaho, Utah or Wyoming, Mann Mortgage can help you make it happen. Please contact us today or apply online in less than 10 minutes using the secure online application below.


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