A Spotlight On The 203-K Loan
Rehabilitation Financing
Rehabilitation Loan Highlights
- Low Down Payment
- Purchase or Refinance
- No Mortgage Payments During Construction
- Single Family Properties
- Mixed Use Property
- LTV’s Up To 110% of Value
- High Loan Limits
- Seller Credits Allowed
- 2 to 4 Unit Properties
What if you found the ideal location for your home, but no available properties were in the condition you wanted? With our rehab loans you can buy any property and rehab it the way you want without requiring additional money or time. Simply a great way to make a house your home.
Qualifying Made Easy
You do not need perfect credit or a lot of cash reserves (money in the bank) to qualify. Contact Ardain Mortgage Corp to see just how easy it is to qualify. You will be surprised at how easy we make it!
Purchase Details
Down-payments are as low as 3.5%; sellers can assist with closing costs; loan amounts up to 110% of after rehabbed value; income credit for unoccupied rental units — just some of the many benefits that make our 203-K rehab financing the right choice for your home purchase. Ardain’s experience with 203-K rehab loans allows us to close most loans in 20-35 days. Contact us on how to get started today!
Refinance Details
Most rehab financing requires no down-payment and some programs offer cash back if you have recently purchased the property.
Eligible Properties
Properties may be single family homes, two-to four-unit multi family properties, condos, town homes, or mixed use properties (residential combined with commercial store front). Also, you may convert properties with greater than 4 units to 4 units or less to meet our eligible property requirements.
In One Simple Loan
You only have one loan with our rehab loans. Make one simple payment on one loan. In most cases you will have one 30 year fixed loan that will include taxes and insurance. In fact, during construction you may not have to make any payments at all!
Non-Profit and Government Agencies
Ardain Mortgage Corp has programs available for Non-Profit Agencies with 501C3 status as well as Government Agencies, Cities and Municipalities that are interested in improving their communities. Contact Ardain Mortgage Corp for information or send your request to info@ardain.com.
Get Pre-approved Today
Qualifying is easy. We only need a few items to pre-qualify you for our rehab loans, and when it’s time for the application we will come to you. Call us today for details on what we need in order to say YES to your rehab loan today.
Ardain Mortgage Corp
Office 847 963-1000
Fax: 847 963-1010
1508 W Algonquin Rd.
Palatine, IL 60067
Written by
Richard M. Hartian, President Ardain Mortgage Corp
Ardain Mortgage Corp is an Illinois Residential Mortgage Licensee
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