FHA 203K Information

There are plenty of homes out on the market today that are, quite literally, diamonds in the rough -- just needing a good clean and polish. Don't discount a home because it's in disrepair – instead, get a great deal on a fixer-upper and plan the repairs and updates to your specifications, all the while knowing the money for updates is available at the closing.

HUD has a program that is in place just for this purpose: to help people acquire these properties that need TLC and get the funding needed to bring the homes back to market condition. You qualify for the loan based on the future value of the home after repairs and updates.

The FHA 203K loans are a great opportunity to finance the work that is needed to get lender financing and a beautiful new home. Find out more…

FHA 203(k) – Rehab Money
Streamline 203K – Up to $35K in repairs
Full 203K (for major rehab) – beyond 35K

…or just call our good friends, Rollin Thornton and Lynn Handlos, at RMG Alerus for more information about 203Ks and any other special programs available for home mortgage loans. They have experience with the 203K program as well as other programs – city, county, state, and/or federal -- for which you may be eligible. Tell them Dominion Builders sent you!

Lynn Handlos
6 Pine Tree Drive, Suite 330
Arden Hills, MN 55112
Office Phone: 651-203-8311
Cell: 612-723-0539
Fax: 651-203-8323
E-mail: lynn@rollinthornton.com

We at Dominion Builders understand the compliance elements of the program’s contractor requirements, and would be happy to provide the services you will need to update your new home. The contractor plays a significant role in the success and completion of the approval process for a timely close. Our experience and knowledge will be an asset in the successful implementation of this additional financing, and ensure timely and quality work on your home.