New Penn's FHA 203(k)
program enables you to finance additional money into your
mortgage to improve or upgrade your home. With this new
product, you can quickly and easily tap into cash to pay for
property repairs or improvements. You can
refinance your mortgage plus roll the cost of
improvements into one monthly mortgage payment - with only one
closing!
How does an FHA 203(k) loan work?
The FHA 203(k) program is intended to facilitate uncomplicated
renovation and improvements to a home. To be eligible, you must
qualify for an FHA loan and your property must meet certain
criteria, such as being owner-occupied by completion. The
additional funds for renovation remain in an escrow account after
closing that you can pull from to make repairs to the property.
Eligible home improvement projects
With an FHA 203(k) loan, you could paint your house, get new
appliances, remodel the kitchen, install new carpet, add hardwood
flooring, repair or replace a leaky roof, or waterproof your
basement to name a few.
Expertise you can count on
New Penn Financial is an approved FHA 203(k) lender. We have the
expertise to help you get set up with the financing to upgrade your
home. We'll work with you one-on-one through every step of the
process.
When it comes to refinancing your mortgage, it's essential to
partner with a lender you trust. Simply give us a call at
888-673-2035 to learn more about the FHA 203(k) Rehab loan.
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