Renowned Renovations is a FHA 203k approved Remodeling Company, which is required for a FHA 203k loan.
The main benefit of FHA 203k loans is that they give you the ability to buy a home in need of repairs that you might not otherwise have been able to afford to buy. Plus, the down payment requirements are minimal, and often you get decent interest rates (note that the interest rates and discount points will vary by 203k lender, so it’s important to make sure that you’re getting a good deal on the loan).
The downsides are that not all properties qualify, there are limits on the funding you can get and applying for the loan isn’t easy. For example, to apply for the loan you may need to hire an independent consultant to prepare the exhibits required (to get the loan, you have to provide a detailed proposal of the work you want to do and cost estimates for each item).
Limited 203(k) Mortgage
FHA's Limited 203(k) program permits homebuyers and homeowners to finance up to $35,000 into their mortgage to repair, improve, or upgrade their home. Homebuyers and homeowners can quickly and easily tap into cash to pay for property repairs or improvements, such as those identified by a home inspector or an FHA appraiser. Homeowners can make property repairs, improvements, or prepare their home for sale. Homebuyers can make their new home move-in ready by remodeling the kitchen, painting the interior or purchasing new carpet, according to experts of
property consulting Sea Pines.
203(k) Mortgage
The Section 203(k) program is FHA's primary program for the rehabilitation and repair of single-family properties. As such, it is an important tool for community and neighborhood revitalization, as well as to expand homeownership opportunities.
The Renowned Group, a premier Dallas remodeling company, has once again demonstrated its industry leadership by winning two prestigious NARI (National Association of the Remodeling Industry) CotY (Contractor of the Year) Awards in 2024. The company’s exceptional work in the Residential Interior ($100,000 to $250,000) and Residential Kitchen ($150,000 to $200,000) categories showcases their commitment to crafting unique, high-quality living spaces tailored to their clients’ needs. With a legacy of award-winning projects spanning multiple years and categories, the Renowned Group continues to set the standard for excellence in the Dallas remodeling industry.
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The Renowned Group has masterfully transformed a dated urban Dallas loft into a stunning, modern oasis. This luxurious condo renovation showcases the perfect blend of style and functionality, with expertly designed living spaces that redefine urban sophistication. From the sleek, open-concept kitchen to the spa-like master bathroom, every detail has been carefully curated to create a truly exceptional home in the heart of Dallas.
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