Dan Woznicki from Wellsfargo, and Pam Crawford from RE/MAX Professional Associates talk about the three or more things you can do with a 203k Renovation loan. In this video they are using 26 Sumner St, Auburn Ma as an example of the things you can do. Dan points out you can use it to bring the house up to FHA standards like painting chipping peeling paint, but you and also use it to do upgrades, like replace exhisting counters for granite, remove outdated panelling or wall paper, and redo flooring. He does point out that you can use this type of loan to install pools or out door hot tubs.
This is a great loan for anyone who found that charming house in that great location, but just want to make the upgrades to make the house their own.
Pam Crawford, ABR,e-PRO®,CRS,CDPE,LMC
Owner, REALTOR®, Managing Partner, MBA, BSBA
RE/MAX Professional Associates
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