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If you are purchasing a foreclosure in Maryland, and plan to do rehabilitation then your best bet is to get an FHA 203-k loan.  For many, buying a foreclosured property can present certain challenges:

Challenges:

• Sale is “As Is” 
• Seller Not Willing to Fix or provide Needed Repairs
• Standard FHA Financing Not Available
• Buyer’s Concerns About property
• Lack of Funds For Repairs

The advantages and benefits of an FHA 203-k loan can overcome all of the above challenges.

Advantages:

• Can Finance up to 110% of “as completed” value
• Solves seller’s unwillingness to fix or Repair Items
• Solves buyer’s concern on the condition of property
• Financed up to $35,000 in limited improvement types

To learn more, contact me at 240-447-2376.