There are many great, affordable available for sale in East Orlando and many of these homes are in need of repair. Due to cost and time, the average buyer shies away from these homes. When will we have the time to do necessary repairs and more importantly, where will we get the money?
For a homebuyer with the time and money to buy a distressed property, a 203(k) loan may be something to consider. With a 203(k) loan, a homebuyer can get one mortgage loan at a long-term fixed (or adjustable) rate to finance both the acquisition and the rehab/repair of the property.
Learn more from HUD.
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