Construction Loans

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Conventional Rehab Loans

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203K Construction Rehab Loan

This loan was devised to help homeowners who want to buy a home that needs some TLC.   This loan allows the rehab project and the mortgage to be combined into one loan!


Required project documentation

  • Contractor Resume, License, Insurance
  • Cost Estimates/Bids (labor, materials, permits)
  • Detailed Description of Project
  • Contract with Buyer for rehab work
  • Additions require full plans and specs
  • On Full 203k, Hud project consultant ‘s Report

To Be Eligible:

  • Buyer needs “normal” FHA down-payment amount (currently 3.5% down)
  • Seller CAN pay up to 6% concessions toward buyer’s closing costs and pre-paid expenses.
  • The property must be a one-to-four-family dwelling that has been completed for at least one year.
  • Property must meet provisions of local zoning requirements.
  • Homes that have been demolished, or will be razed as part of the rehabilitation work, are eligible provided some of the existing foundation system remains in place.
  • In addition to typical home rehabilitation projects, this program can be used to convert a one-family dwelling to a two-, three-, or four-family dwelling. An existing multi-unit dwelling could be decreased to a one- to four-family unit.

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Florida Offices

Islamorada, FL, 33036
St. Petersburg, FL, 33708


Ohio Office

Columbus, OH, 43082
Lewis Center, OH, 43035


Pennsylvania Office

Monaca, PA 15061



Company NMLS #138740
We lend statewide in Ohio, Florida, and Pennsylvania
Ohio# MB.802202, Florida# MBR794, Pennsylvania Dept. of Banking License#21259
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