Southlake Texas FHA 203k Loans l FHA 203k Rehab Loans in Southlake TX
By The Legacy Group, The LegacyGroup of CrossCountry Mortgage
(CrossCountry Mortgage)
A Special Government Home Renovation Loan Program with Southlake Texas FHA 203k Loans. Many are not aware of a special government loan program that is actually a part of FHA (Federal Housing Administration- a department within HUD). This FHA loan program allows the buyer or existing owner of a home to do significant amounts of remodeling or updating to their home without a higher cost second lien. The loan program does not allow for “luxury items” which are defined as items like a swimming pool or hot tub, etc. Repaint, remodel cabinetry in kitchens and bathrooms, add wallpaper, replace appliances and flooring and even a add a room to an existing structure (which will increase the value of the homes square footage). This loan program has many advantages but one of the...
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