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Contractors For Rehabbing Minnesota Housing
In certain cases, the 203K program may be a good answer to “how to get certain work done”
that may not otherwise be possible.
See also CRMH Info for homeowners / home buyers
Dave Sawicki, Eagle View Mortgage, has spearheaded a new local group of Twin Cities contractors. Appropriately named, Contractors For Rehabbing Minnesota Housing, this group promotes ways to use rehabbing to improve the value and livability of Minnesota houses. Utilizing the FHA 203K program, where applicable, this professional group can help facilitate the enhancement of community and neighborhood revitalization as well as to expand on many individual homeowner repair or remodeling opportunities.
The purpose of Contractors For Rehabbing Minnesota Housing is to help create public awareness about the possibilities and benefits the 203K can provide, to create opportunities for the “Approved Contractors” in the group to promote their work, services, and expertise, and to create projects and jobs for them as a result.
The 203K program is a federally insured mortgage program, and a financial product that may serve many people well in these tight credit markets. In a market where loans are difficult to secure, the 203K may be a good answer to “how to get certain work done” that may not otherwise be possible.
The 203K is one loan covering both a mortgage or refinanced amount plus the amount of repairs or remodeling work. Certain parameters and requirements apply. In general, the 203K program is ideal for:
- First time home buyers interested in purchasing a property in need of repair
- Existing homeowners who want to repair their current property
- Borrowers with limited funds for down payment, closing costs, or necessary repairs
For more information about how to become involved in Contractors For Rehabbing Minnesota Housing, we invite you to click through a brief self-paced tutorial where you will learn more about the 203K program as well as this local contractor group.
Questions? Interested in getting involved in CRMH? Inquire online or contact 763-745-7490 to learn how to get started! As a homeowner, if you would like additional information about the 203K program, or wonder if it could apply to a situation of your own, either email or call Dave Sawicki, Eagle View Mortgage,
651-556-1399.
Visit www.crmh.net for more information.
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