Myths About FHA-203k Rehab Loan

1
Drew Mortgage Associates
Trusted Boston Mortgage Lender www.drewmortgage.c
om NMLS ID 2856
2
FHA 203K home loan program is intended for those
borrowers who wish to cover both the purchase and
renovation costs under one program. The primary
focus of this program is revitalization and home
improvement.
Myths About FHA 203K Rehab Loan

• There are a lot of myths encircling the 203K
  rehab loan, which has been around, for a couple
  of years. Lets find out some of the truth behind
  these myths.

3
While FHA 203K rehab loans can be complicated,
there have been many who have been talking about
their ordeal while getting their documents fixed.
However, over the past years, things have
streamlined and if you have a good team to guide
you, your paperwork can be smoothly done.
Paperwork
4
This is one of the biggest myths, due to which
people refrain from undergoing this process. The
time may span around 40-60 days depending on the
requirement.
Time to Close the loan
5
We understand that there a lot of apprehensions
revolving around why to renovate the house and
pay for 30 long years for it. What most buyers
tend to overlook is that fact that you get to
borrow that amount of money, which is the future
value of that home. This leaves room for a lot of
equity.
Borrowing Money for Renovation
6
Why Drew Mortgage
Drew Mortgage, Bostons top mortgage dealers are
experts in helping applicants select appropriate
loans for their situations and helping them
qualify for it.
Trusted Boston Mortgage Lender www.drewmortgage.c
om NMLS ID 2856