203k Inspection | Make That Home Your Own With a 203k Loan
203k Inspection | When looking for a home, it is very difficult to find a home that is in your budget while still checking off all the items on your wish list. Many times, if you find a home that includes all your wants, it is way over your budget. This leaves many people compromising between price and wants.
One way to overcome this dilemma is with a 203k loan. A 203k loan allows you to purchase a home that needs some work and borrow the money to make the necessary repairs.
How does a 203k loan work?
A 203k loan allows you to borrow money for the price of the home and simultaneously borrow money to make repairs or renovations. This allows you to broaden your home search to homes that you might not have previously considered. You can now look at homes knowing that you can make changes to fit your family’s needs or wants.
Some popular renovations with a 203k loan include: basement remodel, kitchen remodel, bathroom remodel, window replacements and door replacements. Without the 203k loan, you might not have the money on hand to make these changes right away.
The value of a 203k inspection.
Once you decide a 203k loan is for you, it is best to start looking for a company to perform a 203k inspection. A 203k inspection varies from a typical home inspection in that it is designed specifically for this type of loan. Your best choice for a thorough 203k inspection is Beryl Engineering & Inspection. Beryl will help you determine exactly what renovations need to take place and help you determine if your ideas will work within the scope of the 203k loan. Beryl will help you provide documentation of repair costs and even give you guidance to select qualified contractors for the job. Contact Beryl today for your 203k inspection.