Getting the Most Bang for Your Buck- Renovate Your Kitchen and Bathroom!

Renovation
Renovation

Maybe you have just purchased that diamond in the rough, the house with the good bones and beautiful architecture, but the bathroom tile resembles Pepto bismal and your kitchen has army green linoleum that matches the ancient appliances. Or perhaps, you have lived in your home for years and now that abundance of oak in your kitchen has gotten old or the once glorious jet tub ceased to sooth your aching muscles long ago or you plan to sell your house soon, it is probably time to make some changes to your home. There are many things to consider when you approach either of these type of renovations. Perhaps, after careful consideration you may decide you want to renovate both of these spaces.

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Advantages of a HUD 203(k) Rehab Loan for First-time Home Buyers

In this month’s Advanced Home Inspection blog, we discuss the many advantages of a HUD 203(k) rehab loan. With high home prices and low inventories throughout the state, many first-time home buyers in New Hampshire are entering the housing market with the help of a HUD 203(k) rehab loan.

What is a HUD 203(k) Rehab Loan?

The HUD 203(k) rehab loan is a specialized renovation or construction loan that’s backed by the Federal Housing Administration. It is unique in that people can borrow money equal to the estimated appraised value of their home after the repair work is completed. No other rehab loan (or other type of loan) offers this.
“Through a 203(k), you can get into a home at a lower price than you could through any other loan program,” says David Cassavaugh, licensed home inspector and owner of AHINH, one of the only certified HUD 203(k) consultants in NH.
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