Benefits of a Renovation Home Loan:

Renovations using the FHA 203k loan program

Buyers will receive the renovation funds to purchase and renovate their home in one
easy to understand transaction.
✓ One Approval Process
✓ One Application
✓ One closing
✓ One monthly payment
When purchasing a new home what’s the first thing we do? Make it our own style! new homeowners can accumulate an average of $8,000 in credit card debt for home improvements. By using the renovation home loan program the savings could be substantial.

The following before and after photos gives you an idea of the improvements a home buyer can make.

FHA 203k loan allows renovations done to your decor stylerenovations using the 203k loan

Homes are being purchase in creative ways such as Hedge funds or perhaps developing an LLC from your 401 K .

Renovations using a 203k loan or purchasing a Short Sale home. 

“let our family provide your family with the home you’ve always dreamed of” 

Knipp Contracting

623-561-0803

info@knippcontracting.com

Whether you choose a FHA 203 K Loan or purchase a Short Sale. Make the home your own with renovations.

Knipp Contracting

623-561-0803

info@knippcontracting.com 

Do you a see a distressed home and think “Great neighborhood I wish the house had a bigger bathroom or updated kitchen or even new carpet”

You can have the best of both worlds. With a General Contractor who is experienced as a 203 k certified contractor along with a qualified Realtor and a certified Lender. You can make it the home of your dreams! Yes, with a 203 k FHA home loan you are able to have one loan amount and include your renovations into one loan amount.

Below are photos that will illustrate what changes can be made in a distressed home.
Vidoes seeyoutube Knipp Contruction 

Go to Knipp Contracting fan page for more Photos and valuable 203 k information.

Information in part by Gina McKinley Broker in the South East Valley :

Over half of all of the homes for sale in the Phoenix Metro Area are distressed.  But what does that mean? Are buying these homes even a good idea?

Distressed homes have either gone through foreclosure or are put on the market by the homeowner as a “short sale”. A short sale means that the homeowner can no longer afford to pay the mortgage on their home, and the mortgage is greater than the current market value of the home.  The homeowner’s lender then agrees to accept less than the outstanding loan instead of going through the foreclosure process.

These two types of sales are very different from traditional sales – they usually have a lot more paperwork, and in the case of a short sale, a much longer transaction. If you don’t have a qualified agentto represent you, these transactions can potentially be very frustrating.  Most buyers will shy away from these sales for the above reasons.

As a Certified Distressed Property Expert, both I and my team are experienced in navigating the potential pitfalls that these types of transactions have.  We can help you find some of the best deals in our current market.  Regardless if the property is distressed or not, this is an amazing time to buy a home.  Incredibly low interest rates combined with low property values will provide you with a great bargain every time.

One of the best advantages of buying a distressed property is that the seller is highly motivated to sell.  Banks are looking to remove the liability in the case of a foreclosure and a homeowner in financial trouble will want to get out of a mortgage they can’t afford. These sales are also much less emotional, and won’t be offended if your offer comes in below list price.