Are you looking for a new home in St. Louis, St. Charles or anywhere in Missouri? Have you found that almost perfect home in the right location that is selling at a reduced price, this home would be absolutely the right home for you but it needs a little or a lot of work.

Have you seen homes in and around the St. Charles and St. Louis that if only it had a bigger garage or even a garage at all, or the kitchen would be great if it had a new stove and appliances, or the bathroom needed updating, or the flooring needed replacing, or......whatever you can think of that would make your near perfect home perfect?

Unfortunately, most mortgage loan programs require homes that are in need of work to be complete before the financing can be secured for the purchase transaction. Whether the needs a little or a lot of work most First Time Home Buyers, really most home buyers, simply don't have the up-front cash to invest in a property prior to actually securing the financing.

However, the FHA 203k rehab loan may be your answer to turning that fixer upper into your dream home. The FHA 203k rehab loan is a popular mortgage program designed for home buyers that want to finance the cost of home improvements into a new loan.

The financing for this mortgage will include the purchase price, as well as the improvements you are either required to do to be able to live in the home, or that you want to do, such as upgrade the kitchen, the bathroom, a new water heater, new flooring, etc.

Repairs on a fixer upper can be expensive and the FHA 203k Renovation Mortgage allows borrowers to finance the improvements into the new loan vs. having to pay for the updates and repairs out of their savings or worse putting it on their credit cards.

Since the FHA 203k Rehab/Renovation loan is designed for fixer uppers home buyers and borrowers can qualify for a mortgage on a home that needs work and actually finance the construction costs labor/material up front.

One single loan is used to pay for the purchase (or refinance) and cost of rehabilitation or updating of the home.

 If you can imagine it more than likely it can be financed into your FHA 203k mortgage. Somethimes a new home simply made require some minor cosmetic work, like new flooring, upgrade a kitchen or bath, put on a new roof or install new energy efficient windows. Or it could be that you find a home that is the perfect price and location, but inside it needs a complete gut job.

You like the shell of the house, or not, but want to blow out the walls to change the floor plans, need to add a floor, re-do the plumbing or electrical, really major stuff! Just maybe the bones of the house are terrific but it is just too small.....add a an extra room or even an entire new level!

The FHA 203k Rehabilitation program is designed to address all of these circumstances and more!

One of the many great things about the FHA 203k mortgage is that this loan program is originated and underwritten just like the standard FHA mortgage program, if you can qualify for the standard FHA mortgage you can qualify for the FHA 203k program!

You can purchase your soon to be perfect dream home with the same 3.5% down payment of a regular FHA loan, depending on your loan amount. Just like a normal FHA mortgage the seller can help you with the closing costs as well.....imagine getting your next new home with only a 3.5% investment.

Would You Like To Know More?

And there is a lot more to consider before you can know for sure if this program is right for you. Allow me to send you a short but information filled report that will supply you with the knowledge to understand further this great program.

My name is Bob Rutledge and I specialize in renovation mortgages, my offices are in St. Charles and St. Louis but I have the ability to do FHA 203k and Home Path Renovation loans all over the State of Missouri. I have done FHA 203k loans not only in St. Louis and the surrounding area but in Kansas City, Springfield, Cape Girardeau, Columbia, Sikeston and many towns in Missouri. If you need help with a mortgage for your new home or just have questions please free to contact me.

It's Free!