This is the time to consider purchasing your new home with the FHA 203K loan. Many think that the 203K loan that allows you to not only borrow for the purchase but also the renovation funds of your new home can only be used for foreclosures and or critically damaged properties. It is true that short of a cash offer the FHA 203k is the only means for purchasing these properties that otherwise would not be considered sufficient collateral for the bank and pass an appraisal for a tradition conventional or government loan.
The key is housing pricing is obviously down significantly and you may be able to purchase the home you want that is simply outdated or too small for the area and use the FHA 203K renovation loan for it's stated goal "revitalizing existing housing stock" which gives you the opportunity to personalize your home to your desire and taste while enjoying potential sweat equity gain.
The 203K loan is perfect marketing tool for sellers that can overcome every buyer's objection as again the home can be customized to taste. Careful planning and advance research is important when purchasing a home especially when you are considering it's after improved value and a renovation project to commence upon purchase but if you looking for an expert that is available to answer your questions up front you have to look no further. I look forward to helping your family realize your home purchasing dreams.