Most people see fixer-upper homes as money pits. And most people, and lenders for that matter, do not fully understand how to manage the fixer upper process. Yet, when looking at the real estate market as a whole, there are exponentially more homes that need work than homes that don’t. And in reality, many of these homes can be blank canvases for you to build and/or renovate your dream house. And renovation loans like the FHA 203k loan, allow you to build the cost of renovation into the loan. Next to the mortgage payment by itself, a homes carrying costs (also know as maintenance and utilities), is the second largest financial component of homeownership. Learn how to manage the fixer upper process more efficiently… Ask us how
*Not intended as real estate, accounting or investment advice. Contact your financial representative for more information.