KCR is an accredited 203k Contractor

The FHA 203k rehab loan is more like a construction loan.  There are 2 types of FHA 203k loans:  Standard/Full 203k (minimum $5,000 up to 110% of the improved appraised value) and he Streamline 203k (work is less than $35,000 and up to 110% of the improved appraised value).

Who qualifies for the FHA 203k loan?

Any owner occupied primary residence borrower or qualified non profit group that qualifies for a standard FHA loan can quality for an FHA 203k loan.

What type of properties qualify for an FHA 203k loan?

An FHA 203k loan can be used for 1 to 4 unit dwellings, single family, detached homes, duplexes, triplexes or 4 family homes and some condominiums.

How quickly can the project be completed?

Both the Standard and the Streamline FHA 203k loans require the project to be completed within 6 months.  The Streamline 203k loan project is required to be livable within 30 days of closing!

The FHA 203k loan is a tool that savvy home buyers, successful contractors, real estate and mortgage professionals have been using since 1978.

An FHA 203k loan is very similar to the traditional FHA loan (known as the FHA 203(b) loan).  The only real difference is that with the FHA 203k loan, the home buyer is adding money to their mortgage balance to finance any repair/improvement costs.  Whereas the traditional FHA loan requires that certain repairs be done before the home is purchased, the FHA 203k loan allows the home buyer to purchase their home and complete the repairs / improvements after the transaction closes.

With the FHA 203k loan, a home buyers can fix up his/her home and not have to worry about the additional out-of-pocket expenses for the repairs/improvements.  What a brilliant way to purchase a fixer-upper!

Our Team at KCR Construction specializes in both complete house restoration or just some minor remodeling for your new home purchase.  As an accredited FHA 203k Contractor, we are in the right position to help your project house become your new home!

Make your home more accessible while increasing it's overall value:

* Complete home remodeling
* Drywall and plaster repair
* Painting and staining
* Kitchen and bathrooms
* Deck Design and construction
* Concrete driveways/sidewalks
* Carpet and hardwood flooring
* Basement living space

Free Estimates
License Bonded & Insured
Locally owned and operated for over 20 years