Thanks For Requesting A “203k Fixer Upper Mortgage Quote.”
Based on a purchase price of $, you might be able to use the FHA 203k Mortgage program to finance a total of $0 (110%) which will leave you with extra $$$ for repairs.
Generally, this program requires a 3.5% down payment, which works out to $0 on a $ Property.
You’ll also have additional closing costs associated with the loan which in this example will likely work out to be another $0 to $0.
Good news is that the FHA 203k program will also allow you to get a seller’s assist of up to 6% of the purchase price, which can help reduce your “money needed to close..”
Please know that these are just rough estimates…
A lot will depend on your income, your credit score, interest rates, and the condition of the property and various other factors.
To get a true sense for whether you can get pre-approved for a mortgage like this, and to learn more about the specifics of a 203k Fixer upper financing scenario, please reply to the email or text message we just sent you.