- Chesterfield County
- Amelia
- Ashland
- Bon Air
- Chamberlayne
- Colonial Heights
- Dinwiddie
- Downtown
- East End
- Glen Allen
- Goochland
- Hanover
- Henrico
- Highland Park
- Hopewell
- Lakeside
- Mechanicsville
- Midlothian
- Moseley
- North Chesterfield
- North Side
- Powhatan
- Prince George
- Richmond
- Sandston
- Short Pump
- South Side
- Tuckahoe
- Varina
- West End
Foreclosures Richmond Virginia
There are homes that are 🥶 ice cold! They just sit on the market longer.
One of the biggest reasons a house may sit on the market is the condition!
A 203k rehab loan can be a great option if you are looking for a property that requires repairs or renovations. Here are some advantages and requirements of a 203k rehab loan:
Advantages:
- Allows you to finance both the purchase of the home AND the cost of renovations in one loan.
- You can borrow up to 110% of the home's future value after the renovations are completed.
- Flexible credit requirements: Even if you have a low credit score, you may still be eligible for a 203k loan.
- Can be used for a variety of repairs and renovations, including structural repairs, room additions, and energy-efficient upgrades.
Confirm with a lender as Requirements are always changing:
- The property must be your primary residence.
- You must have a credit score of at least 620.
- You must have a down payment of at least 3.5% of the total loan amount.
- You must work with a licensed 203k consultant to help you with the loan process and ensure that the renovations meet FHA guidelines.
- The renovations must be completed within six months of closing on the loan.
- The loan amount cannot exceed FHA loan limits in your area.
In summary, a 203k rehab loan can be a great option for first-time homebuyers in Richmond, Virginia who are looking for a fixer-upper property. However, it's important to make sure you meet all the requirements before applying for the loan.
Contact us for a lender that specialized in 203(k) Rehab Loans.
Foreclosure Homes:
Charming & Fully Updated 4-Bedroom Home in North Highland Park! Discover this spacious, move-in-ready 2-story colonial featuring 4 bedrooms and 3 full tiled bathrooms....
- 4 Beds
- 3 Baths
- CVR-2620260 MLS
This residence offers a well-proportioned layout and a strong opportunity to reimagine the space to suit modern living. Ideally situated in Midlothian with convenient acc...
- 3 Beds
- 2 Baths
- CVR-2620258 MLS
HUD case #544-395902 - (IE Insured w/Escrow) This inviting 4-bedroom, 2-bath home offers 1,512 sq ft of flexible living space with great potential and solid updates alrea...
- 4 Beds
- 2 Baths
- CVR-2618921 MLS
This 4-bedroom, 1.5-bathroom home in Petersburg comes with just over 5 acres of land. The main house, a classic two story colonial type home, has hardwood floors througho...
- 4 Beds
- 2 Baths
- CVR-2619993 MLS
The list price is not indicative of seller's final reserve amount, list price is opening bid amount. This property is part of an online bidding event. Inspections of this...
- 3 Beds
- 2 Baths
- CVR-2619858 MLS
2 story home with rear florida room. Eat in kitchen has plenty of cabinets, formal dining room/living room, 3 bedrooms one full bath. Property built prior to 1978 lead...
- 3 Beds
- 1 Baths
- CVR-2619611 MLS
Welcome to this beautifully maintained 2-story home offering 3,639 square feet of thoughtfully designed living space. Built in 2022, this modern residence combines contem...
- 5 Beds
- 5 Baths
- CVR-2617976 MLS
Spacious 5-bedroom, 3.5-bath Colonial located in the desirable Oakland Chase community of Henrico County. This two-story home offers approximately 3,237 square feet of fi...
- 5 Beds
- 4 Baths
- CVR-2619121 MLS
Welcome to this spacious 4-bedroom, 2-bath ranch-style home offering 1,849 square feet of living space. This property features an attached one-car carport, a backyard she...
- 4 Beds
- 2 Baths
- CVR-2618415 MLS
HUD Case #544-346473 IN (Insured) Charming Cape Cod home featuring a desirable first-floor primary bedroom and full bathroom. The open-concept floor plan offers a spacio...
- 3 Beds
- 2 Baths
- CVR-2617794 MLS
Welcome to 3406 Mike Rd, a stunning 3-bedroom home in a charming and quiet neighborhood only minutes to the heart of RVA. This beauty has been upgraded and offers a spac...
- 2 Beds
- 2 Baths
- CVR-2616774 MLS
Great opportunity for First Time Home Buyer! Welcome to this completely renovated one level home in Henrico. This home offers a new custom kitchen with upgraded counter...
- 2 Beds
- 1 Baths
- CVR-2616565 MLS
Address Search
Interactive Map Search
Richmond City Real Estate
Chesterfield County Real Estate
Henrico County Real Estate
Hanover County Real Estate
Connect With Us
📞 (804) 409-4614
