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Home Improvement Loans

homerepairYou've found a home, but it's a little rough around the edges. Where can you turn? Now, you can transform any home from "as is" into "exactly as it should be" with an FHA 203(k) loan from New Penn Financial.  FHA's 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 and roll the costs into one monthly mortgage payment.

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 purchasing a home, 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.