203 K Contractors LLC, based in Tempe, Arizona are a company in the US Construction Directory mainly listed under the category of Residential Remodelers, but also listed under
FHA 203k Contractor Directory & Certification Program
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| PURCHASE AND REHAB YOUR HOME WITH AN FHA 203k LOAN | Most home buyers are turned off at the sight or even the thought of a buying a fixer-upper, foreclosure, or an older home today. Educated and informed home buyers, on the other hand, are utilizing the FHA 203k loan to buy and renovate their new homes with little or no additional out-of-pocket expenses. In fact, the FHA 203k loan is a tool used by savvy home buyers and home owners, successful contractors, real estate and mortgage professionals since 1978. | An FHA 203k loan is very similar to the traditional FHA loan. The main difference is that with the FHA 203k loan, the borrower is adding money to their mortgage loan to finance any repair/improvement costs. Whereas the traditional mortgages require the property to meet certain condition requirements before the loan is funded, the FHA 203k loan allows the borrower to purchase/refinance their home and complete the repairs/improvements after the transaction closes. With the FHA 203k loan, a borrower can repair/improve his/her home without worry about the additional out-of-pocket expenses for the repairs/improvements. | The Standard 203k allows for complex rehab such as structural modifications, additions, landscaping, architectural/engineering drawings, and requires the use of a HUD approved FHA 203k Consultant. The renovation cost for the Standard 203k is $5,000 - FHA mortgage limit for the area in which the property is located (up to $1.4Million – some restrictions apply). Click Here to access the maximum FHA mortgage limits for all areas. | The Limited 203k version, on the other hand, is intended for uncomplicated and more simple rehab and will not allow for structural modifications, landscaping, etc. The renovation cost for the Limited 203k are $0 - $35,000 (some restrictions apply). | 203k Benefits to Buyers/Borrowers | 203k Benefits to Homeowners & Sellers |  |  | Â
