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203K Loans Colorado:
Advantages and Disadvantages




                   @cobroker1


                   +Brian Quigley

                   Mortgage Blog


              WWW.BRIANQUIGLEY.COM
What is a 203K Loan?

• Allows people to borrow money for:
   • Home Improvements
   • Home Ownership
• All in one loan
• Guaranteed loan so
  interest stays low



@cobroker1                             BrianQuigley.com
Handle Dealbreakers




• Buy an almost perfect home
• But serious defects will
  scare off lenders
   • 203K loans will let the
     lender know you are
     serious about fixing the
     problem


@cobroker1                            BrianQuigley.com
Provides Temporary Housing




  • Allows you to set aside money for
    alternative housing
    during improvements
  • Up to 6 months
  • You will not live in
    a construction zone



 @cobroker1                             BrianQuigley.com
Large Loans Provided



 • Having 203k provides
   access to large loans
   • You can borrow enough
      to finance 110% of
      home’s value after
      improvement
 • Low down payments

@cobroker1                       BrianQuigley.com
Make Improvements that
Matter


  • Make any improvements wanted
  • Cost taken care of up
    front
  • You can choose
     appliances




 @cobroker1                        BrianQuigley.com

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203K loans colorado

  • 1. 203K Loans Colorado: Advantages and Disadvantages @cobroker1 +Brian Quigley Mortgage Blog WWW.BRIANQUIGLEY.COM
  • 2. What is a 203K Loan? • Allows people to borrow money for: • Home Improvements • Home Ownership • All in one loan • Guaranteed loan so interest stays low @cobroker1 BrianQuigley.com
  • 3. Handle Dealbreakers • Buy an almost perfect home • But serious defects will scare off lenders • 203K loans will let the lender know you are serious about fixing the problem @cobroker1 BrianQuigley.com
  • 4. Provides Temporary Housing • Allows you to set aside money for alternative housing during improvements • Up to 6 months • You will not live in a construction zone @cobroker1 BrianQuigley.com
  • 5. Large Loans Provided • Having 203k provides access to large loans • You can borrow enough to finance 110% of home’s value after improvement • Low down payments @cobroker1 BrianQuigley.com
  • 6. Make Improvements that Matter • Make any improvements wanted • Cost taken care of up front • You can choose appliances @cobroker1 BrianQuigley.com