The NJ FHA 203k Renovation mortgage program is designed to allow clients to purchase or refinance properties that need rehabilitation or renovation work. This FHA-insured mortgage product can be used to acquire properties and finance for both the acquisition and rehabilitation all within the same loan.
Unlike traditional construction financing which requires a loan for the construction and then a “take-out” or permanent financing, the NJ FHA 203k renovation mortgage allows you to do all of the financing in one loan with one closing.
Also, NJ FHA 203k Renovation mortgages can be used for either: purchases or refinancing.
Have a question about NJ FHA 203k Renovation Mortgages? Want some insight from a lender who has closed many of these loans? Experience is key when it comes to successfully applying for and closing an FHA 203k loan.
Contact us today at 856-517-0392!
Look at these spectacular NJ FHA 203k Before / After pictures!
Hear what David had to say about this project:
“I am writing with regard to the FHA 203k Rehabilitation loan you worked on for me. Now that the dust has settled on the project I can look back on the process much more clearly. What is most clear is the assistance you gave me throughout the entire process. “Assistance” is probably the wrong word as your help and knowledge of the process was invaluable.
As you may have noticed, I am not the most patient man. Together with the fact that I am not the most focused individual, I am surprised everything went so smoothly. After being turned down again and again for various programs to bring my house—a historic structure that was literally falling down—up to code, it needed an immense amount of work. No one would lend me any funds to repair it until the repairs were, well, repaired.
After searching the web for help of any kind, I stumbled onto this vague government program: the 203k. After entering my information into a search option, you reached out to me almost immediately. And you were so positive about the possibilities it offered to me, I could literally feel my shoulders getting lighter. I appreciate your not only keeping the process going step by step, handling any challenges you could for me and making sure I had everything I needed to take it to closing. You took ownership of it in a way not everyone would.
So in the end, I have a beautiful home that my friends vie for invitations to spend a weekend. I built equity of more than twice the amount borrowed. The funny thing is: I’d do it all over again. If ever I can be of help to you, please let me know. In the meantime, I’ll keep hoping you are around to take me through this process again.”
~ David D.
Another smooth and painless experience…
“I applied for a FHA 203k Renovation Mortgage via AnnieMac in order to purchase our soon-to be dream home and property. Jeff has been an amazing help throughout this whole process. He was outstanding during the application and approval process for the loan. He was always there to answer our questions and provide us with feedback and updates. He continues to be an enormous help even now after we’ve received the loan approval and are going through the building and rehabbing process.
We had a wonderful experience with this entire process and I have to say it would not have been as smooth and painless if it had not been for Jeff. He was and continues to be a wonderful resource and new friend. I would strongly recommend his services to anyone looking into a FHA 203k / Rehab loan. Our sincerest and most heart-felt thanks to Jeff Onofrio and his team for their services and continued support!”
~ Julia & Luis A.