Go Mortgage LLC

FHA203(k), or renovation loan, finances the purchase of a house and subsequent home improvements on one loan. You can also refinance an existing loan on your house and include home improvements by using 203(k) loans. Federal Housing Administration (FHA) backs these loans just like traditional FHA purchase or refinance loans. FHA-approved lenders possess insurance to protect them from borrowers who default on these loans, and the mortgage insurance premium (MIP), which is paid over the life of any FHA loan, covers these losses. Lenders can provide these loans for home repairs with looser qualification requirements than traditional renovation loans, including lower credit scores. This means you can choose from low down payments starting at 3.5% of your home's project cost or total purchase price. Buying a home that needs serious renovations may seem daunting, but there are numerous benefits. Many properties that need repairs and renovations are usually available for sale at a discounted price. You may also see an increase in the property's value, which could mean immediate equity for you. Lastly, remember that you will own the restored real estate property. That is why the FHA203(k) is a loan designed for this particular situation. This makes it easier and more cost-effective to finance the purchase of a house or a refinance.

Company customer service is excellent, as noted in the customers comments. Politeness, helpfulness and informativeness were among the staff members' comments, particularly Nicole Lissade and Khari Nixon, who are highlighted by name as highly professional loan officers. Nicole, in particular, resolved a lot of income and credit difficulties, and the reviewer felt overwhelmed, with a 100% satisfaction rate. Mortgage applications took less than a month to process, and the challenge of approving a mortgage was mentioned, voicing customer satisfaction and respect. Members of a family will also recommend the company so that they can view different statuses and mortgages with a different company.