Mortgage

QAre There Loans Available That Will Cover Both The Purchase Price And Remodeling Of The Home?
AYes. The U.S. Department of Housing and Urban Development's 203(k) loan program is available to address this need. HUD does not make the loan directly, but the application is available from mortgage brokers. Conventional lenders only lend on the current market value of the home. The 203(k) program is unique in that it lends up to 85 percent of the projected market value after repairs are completed. This program is available to owner-occupants and investors.