203(K) PROGRAM-BUYING A HOME IN
NEED OF REPAIRS/CONSTRUCTION
Normally Banks do not close loans until the property is in good, move in condition.
Whereas FHA 203(k) Loan works differently. FHA203k is a loan where the Borrower spends as little as 3 1/2% of the purchase price and the lender provides funds to Seller to close on the transaction. Then the bank requires improvements to be completed, while releasing the payments for improvements to contractors from an Escrow Account. The Law Offices of Irene Stein, PLLC have spent more than a decade assisting clients in closing their Real Estate Transactions. Most clients will agree that it is vital to have a knowledgeable Real Estate Law Firm on your side. We welcome you to visit us. You will find The Law Offices of Irene Stein, PLLC informative and valuable when dealing with this or any other Real Estate Transaction.