Flat Branch Home Loans
203k Renovation Loan
This financing option is designed to facilitate improvements, renovations, and home repairs ranging in cost of $5,000 to $35,000.
What are considered applicable renovations?
What renovations are covered? Examples of eligible renovations include:
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Enhancing functionality and modernization, such as installing new appliances like refrigerators, cooktops, ovens, dishwashers, built-in microwaves, washers, or dryers.
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Repairing, replacing, or installing:
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Plumbing, heating, and cooling systems
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Roofs, siding, gutters, downspouts
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Fences, decks, patios, porches, walkways, driveways
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Addressing health and safety hazards
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Creating accessibility for individuals with disabilities
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What else is covered? Included costs encompass:
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Construction expenses
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Inspection fees
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Title update fees
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Contingency reserves
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Permit expenses
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Origination fees
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What are the requirements? Key requisites include:
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Fixed-rate loan options exclusively
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Minimum credit score of 620
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Loan amount within nationwide mortgage limits
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Eligible States This program is available in Arkansas, Iowa, Illinois, Kansas, Missouri, Nebraska, Oklahoma, Tennessee, and Texas.
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