203K Consultant | Five Repairs That Can Be Done On A 203K Loan
Nowadays, a mortgage loan often does not cover our home repairs. While painting your garage or fixing a small hole in your ceiling can be done with mortgage loans, there are bigger repairs that require more money. Where a bank might refuse your loan application, Beryl Engineering and Inspection will help you get a loan option that is much better than a mortgage loan.
The answer to your home repairs is hiring a 203K consultant who will assist you from start till end to get a 203K loan. A 203K loan allows you to make major home repairs that you are unable to do on a conventional loan. When you will call Beryl Engineering and Inspection for a home inspection, we will send over a 203K consultant who will inspect your house for possible repairs and make a report on it.
If a lender agrees on the possible repairs, a detailed report is made to start the process. The loan amount depends on the repairs the 203K consultant will put in the report.
Following are five major repairs that can be done on a 203K loan:
- Paint Job
Over time, the paint on the house starts to chip away. As the exterior of the house adds a certain appeal to it, it is considered a major house repair.
- Faulty/Missing Appliances
Often, previous owners rip out the inbuilt appliances when they leave the house. This not only creates electrical issues, but also leaves the house bare of essentials like a washer and refrigerator.
- Broken Deck
A broken deck can make you fall and injure yourself seriously. A 203K loan covers repairs for a broken deck, porch or patio.
- New Roof
Leaky or windblown roofs qualify for a 203K loan. The roof is often inspected through thermal imaging and the damaged areas are assessed before approval.
- Additional Rooms
If your property is big but the house covers a small portion of it, you can add additional rooms to it through a 203K loan.
Get your 203K loan process started now by calling us at (813) 358-0405 for a 203K consultant.