203k Loan

Ross Mortgage offers specialty loans, including the 203k loan, which is a unique loan product that allows individuals buying or refinancing a home to include the cost of certain, necessary home improvements into a single mortgage loan. Under the 203k loan program, the home is appraised before any improvements are made. The total loan amount is then based on what the projected value will be after all changes are made, including the capital required to fund the renovations.

Securing the financing for home renovations can sometimes be as complex as the renovation itself. Ross Mortgage’s experienced team takes the strain out of the process, applying its knowledge and experience in the 203k loan market to help you get the additional funds to make improvements to your home. Some of those improvements may include structural repairs, interior and exterior painting, decks and other additions. However, this loan option does not provide for luxury improvements and all other health, safety and environmental factors must be considered before general home improvements are permitted. Ross Mortgage is skilled in identifying exactly what improvements would qualify under a 203k loan, and we can help answer all of your questions.

Ross Mortgage is able to assist in the process of applying for a 203k loan and can simplify time-consuming and confusing paperwork. For more information on how to get started, please visit our Specialty Mortgages page.