Coddington Agency Hornell New York

WHAT DO YOU DO IF YOU HAVE FOUND THE RIGHT PLACE FOR YOUR NEW HOME IN THE RIGHT NEIGHBORHOOD AND EVERYTHING YOU COULD WANT AT A PRICE YOU CAN AFFORD - EXCEPT-  THE HOME YOU WANT IS RUN DOWN AND YOU DON'T THINK  a. THE BANK WOULDN'T LEND YOU THE MONEY BECAUSE IT NEEDS WORK, b. YOU WOULD'NT BE ABLE TO FIX IT UP YOURSELF OR c. YOU DON'T HAVE THE TIME?

TOO OFTEN PEOPLE WALK AWAY FROM WHAT COULD BE THEIR PERFECT HOMEBECAUSE OF THESE REASONS AND YET THERE IS A READILY AVAILABLE OPTION FOR QUALIFIED BUYERS WHICH WILL RESOLVE ALL OF THES ISSUES.

                                         "203(K)"

Why a 203(K)? 

1. MORE MONEY,  - The loan amount is based on the value of your home after the improvements have been made.
2. LOWER MONTHLY PAYMENTS - Purchas and improvements are financed simultaneously, so renovation costs are spread out through the entire term of the loan.
3. TAX BENEFITS - Interest on renovation costs is included in the first mortgage, so it may be tax deductible.
4. SPEED - Renovation can begin immediately after closing.
5. SINGLE CLOSE SIMPLICITY - Just one application, one set of fees and closing costs, one monthly payment
6. FLEXIBILITY - No required improvements or restrictions on repairs; luxury items such as pools and spas may be included
7. OPTIONS - Fixed and adjusable rate mortgage programs.

(source: Wells Fargo Home Mortgage)

At the CODDINGTON AGENCY  we often hear that the houses need renovation .  Don't let this stop you.  Consider a 203(k) mortgage option. Not only will you get your dream home at a price you can afford but you may well have additional equity in your property.

This is only a brief view of the 203(K) call in and see our Real Estate professionals today.