203k Rehab Loans in New York
203k Rehab Loans For Refinance
The purpose of the 203k Mortgage program for refinancing and renovation is to assist home owners in minor to complete overhaul of their property while paying off the original mortgage as well. This combines the cost of renovation with a new mortgage all in one monthly payment.
This type of loan is an insured long term fixed rate mortgage as opposed to the standard short term high interest repair loan and mortgage combination that was available in the past. New York mortgages have undergone many changes since the housing market free fall and government programs have been created to allow as many home owners to keep their homes as possible.
The 203K Rehab Loans do have their requirements just like any of the other mortgages in New York. The total value of the property has to meet the guidelines, and the owner must be able qualify to make the monthly payments. We at Centex Capital
can help the homeowners through the process of applying and qualifying for this or any of the other type of mortgage in the State of New York that are available to them.
We as a New York mortgage broker can find out if your property and circumstances qualifies you for a 203K Rehab Loan. The actual 203K program is an FHA insured mortgage to allow home owners to rehabilitate their property from a small renovation to leveling it to the foundation and starting from there.
Our mortgage company is well versed in all you will need to know and what documentation you will need to gather for the application process of this program. The process can be tedious and time consuming when going it alone, so it is best to have the help of a knowledgeable broker when applying for any mortgage type.
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Contact us to see if you qualify for a 203k Rehab Loan.Email us or call us at (800)842-2910.