Eastside Seattle Real Estate Blog

How to Use the 203k Loan to Your Advantage

Understanding the 203k FHA LoanA 203k loan is a way for home buyers to both buy a home and fix it up without being subjected to outrageous interest rates. This is a specific type of FHA loan created to stimulate homeownership rates and bring attention to some of the nation's more decrepit neighborhoods. It takes a lot of gumption to buy a home in need of repairs, and the government would like to see more of that go-getter attitude. See how to use the 203k loan to your advantage, so you can end up in the home (and the block) of your dreams.

How 203k Loans Work

A 203k loan isn't the same as a typical FHA loan, although...

Understanding VA Loans: A Guide to Alternative Home Financing for Military and Veterans

Understanding VA LoansVA loans are perfect for those in the US military who want to purchase a home without breaking the bank. These loans don't require the potential home buyer to make a major down payment, which is usually the biggest hurdle in purchasing a home. VA loans may be made through private lenders, but they're backed (up to a certain amount) by the VA, provided the applicant meet all of the requirements.

Eligibility Requirements

Veterans Affairs (VA) loans are available to any active or formerly active member of the military. Certain spouses of deceased military members are also eligible, if their spouse...

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