Financing Options: Buy a home with as little as 3.5% down

South Florida Real Estate

Don't let the continuing appreciation of real estate in South Florida pass you by.  Purchase a home with as little as 3.5% down with a minimum credit score of 640.  You can even finance repair items within the loan.  The financing program is called the FHA 203k and it's not just for first time home buyers.

 

The FHA 203k Streamline is an all-in-one loan used for homes that need minor repairs. It allows borrowers to finance the purchase of an existing home and make improvements or upgrades of up to $35,000. There are no minimum repair costs.

Work that is typically available for an FHA 203k loan:

• Repair, replace, and upgrade roofs, gutters and downspouts • HVAC systems (heating, vacuum, and AC) • Plumbing and electrical systems • Flooring, exterior decks, patios, and porches • Minor remodeling that does not involve structural repairs • Interior and exterior painting • Weatherization, including doors, windows, insulation, stripping, etc

• Appliance purchase and installation (ie kitchen appliances, washer, dryer) • Lead-based paint removal and stabilization • Exterior wall re-siding • Other improvements that are a PERMANENT part of the real estate* *Luxury items are not permitted to be included in the financing.