Click the boxes to view what FHA 203k, FHA 203h and FHA Construction loans cover
The FHA 203k mortgage is a special loan program designed to make it easy for a person to purchase a home in need of repair or to finance necessary repairs to an existing home. Buying the home and repairing the home can be done with only one loan.
There are two types of renovation loans: a limited loan that allows for up to $35,000 of renovations and a regular loan that allows for renovations above $35,000.
An FHA Construction-to-Permanent(C2P) loan is specifically used to finance the construction of the borrower’s new home and permanent mortgage all into one single transaction with one closing. The borrower will be approved for an FHA Construction-to- Permanent (C2P) loan, if the borrower is qualified for the long-term permanent FHA mortgage. Upon completion of construction, borrower will be required to modify from the interim construction loan (ICL) into a permanent FHA Fixed rate loan. There will be no additional closing or closing costs required.
The Goldwater Bank N.A. - Mortgage Division - Magnolia Branch team consists of mortgage professionals all over Texas. We are committed to providing our clients with the highest quality service for your home loan needs.
Purchase a property and upgrade it with your own improvements, or get a simple rehab loan for your current home remodel project.
32310 Tamina Rd.
Magnolia, TX 77354
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