FHA 203K loans
The 203k loan is a specialized renovation or construction loan, backed by the Federal Housing Administration. It is available to both buyers and refinancing households, and combines the traditional "home improvement" loan with a standard FHA mortgage, allowing homeowners to borrow their renovation costs. The FHA 203(k) streamline program has already provided many buyers with the funds necessary to buy their first home, or greatly improve a current home.
This loan is available to borrowers of all income levels, and to homeowners who plan to occupy the house and for homes with one to four units.
An FHA loan permits home buyers to finance money into their mortgage to repair, improve or upgrade their home. With this loan option, home buyers can quickly and easily tap into cash to pay for property upgrades or repairs. There are 2 types of FHA 203K loan:
Standard.Full (minimum rehab $5,000 up to FHA maximum loan amount)
Better for Construction Projects.
Streamline (minimum rehab $0 - $35,000) cannot exceed FHA maximum loan amount)
Better for minor improvements and upgrades.
Champion Construction is an experienced and validated FHA 203K Loan Contractor in the metro Atlanta area. These types of renovations require budget planning and precise paperwork. Champion's significant experience in this area allows us to streamline the process with the maximum efficiency. We will take a personal approach to your project and assign one Project Manager to assist you to make your dreams and ideas a reality. Your Project Manager will take the lead in the entire project from start to finish.
In order to insure quality workmanship, up to code inspections, and secure warranties, the FHA requires that Home Owners use only Approved Contractors, such as Champion Construction Systems, Inc.
Champion Construction Systems, Inc. is a fully licensed and insured General Contractor and is currently validated and approved with several local lenders in the metro Atlanta area. We have a validation department especially designed to assist you in all necessary paperwork to get your 203 (k) loan approved with your own lender or we can refer you to a lender that we have already worked with such as:
FOR MORE INFORMATION PLEASE CALL (770) 253-6070 OR EMAIL US DIRECTLY AT