FHA (203Rehab) ~ Did You Know?

• Allows buyers to fiinance up to an additional $35,000 into their mortgage to make improvements.  Additional $8,000 available for Energy Efficient Mortgage Program.

• Must be 100% cosmetic improvements, cannot be structural improvements (can be used for new appliances).

• Construction begins 30 days of loan closing - can be completed up to six months or less.

• Avail for purchase or refinance tansactions.

• Work to be completed by licensed, bonded contractor.

• Owner-occupied, 1-4 unit properties, PUD's, condo, and REO properties.

• Interest rate  is assumable on all fixed FHA programs.