How Can You Use Rehab Loans To Buy a Primary Home
(Secrets in Financing For First Time Home Buyers in MD, DC and VA)
An advanced strategy for you to use in purchasing a home that needs a lot of repair is to use a FHA 203K Loan
This secret calls for using different venues in financing to secure a property for rehab and have a great deal and the FHA 203K loan is just one of them
This works very well in a buyers' market like Maryland where prices have been quite erratic in the last few months and it put you in direct competition with investors that more likely will not be able to compete with you if this is your primary house.
In order to increase your chances to become a homeowner and utilize the latest techniques in creative financing. You should seek the help of a professional Realtor that has the knowledge to find the path to home-ownership for your particular situation.
A good Realtor seek solutions and present you with many options to achieve what you are looking for.
Please check this video detailing the use of 203K loans for one of the paths to home ownership:
There are very few properties in Montgomery County available right now that you could use this type of financing. Please call us for our exclusive list that will also include Frederick and PG Counties.
We will include foreclosures and short sales in need of extensive repairs.
This is not a technique to use if you need to relocate in the next 4 weeks. These type of purchases in general take longer that an conventional purchase. .. but the wait is worthy of your time when you consider the thousands of dollars you could save buying your next home.
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