11/03/2023
Searching for the perfect mortgage but tired of the same old options? You're in the right place!
Here are three lesser-known loan types that might be your ticket to homeownership.
1) FHA 203(k) Loan
Have you ever fallen in love with a fixer-upper but hesitated due to renovation costs? Say hello to the FHA 203(k) loan. This loan combines your home purchase and renovation budget into one convenient loan so you can transform the space into the home you've always wanted, all while securing a mortgage.
2. USDA Programs
Are you dreaming of a home in a quieter, more rural setting? USDA programs could be the answer. These loans offer special terms for eligible rural and suburban homebuyers, including no down payment requirements.
3. New Construction Programs
Have your eye on a new construction neighborhood? New Construction programs can help you build your dream home from the ground up. While some builders offer financing and incentives, you can also look into construction-to-permanent loans that allow you to fill out one application for both the construction and mortgage.
Remember, each loan type has its criteria and benefits, so chat with a mortgage professional to determine the best fit for your next home.
If you'd like the names of a few lenders in our area who are experienced and trustworthy — send me a DM. I'd love to pass their info along to you!
