California FHA 203k Loans

This Article On What You Should Know About California FHA 203k Loans Was Written By Arlene Di Sessa

Demolition or Renovation: Advice for California homeowners contemplating demolishing their California homes or renovating their California homes with a FHA 203k Loan

As California’s housing stock ages, home owners are making decisions when purchasing an older home, “do I knock down the existing structure and rebuild new, or do I renovate”.  California FHA 203k Loans are more popular than ever.  Never since the inception of California FHA 203k Loans has the interest of California FHA 203k Loans been so popular and FHA 203k Loan applications in California has been going up double digits every year since 2012.

Advice From Arlene Di Sessa

The decision usually comes down to “dollars and sense”. At what price point you’re able to purchase the property. How much you can afford in your construction budget. And perhaps the most important consideration is what the value of the property will be once you’ve completed your project.

In nearly every case involving renovating or rebuilding your one to four-unit, FHA’s 203K Program is the solution. In our 21st Century West Coast Economy, cash is King.  If you have the cash and keep it in your pocket.  Interest rates are low. Why pay 20% to 25% down payment on a California home construction financing when with a California FHA 203k Loans the minimum down payment requirement is 3.5% down payment on a home purchase. Many parts of California is classified as high cost area and the FHA maximum loan limit in high cost areas of California is $625,500.

What Is A FHA 203k Loan?

If you want to demolish and rebuild, FHA 203K Loans allows you to include the cost of renovation of the home in the loan amount; the demolition of a property and the rebuild using the existing footing, or you can break down the property to its shell and replace all the mechanicals, electric, plumbing, HVAC, etc. You can move walls, put on an addition, add a garage, completely re-landscape, add luxury items like high end fixtures and finishes.

Buying A Fixer Upper With A California FHA 203k Loan

I’m also seeing more buyers looking at properties that haven’t been updated in over forty years. They’re nice, clean, structurally sound buildings that can, because they’re dated, be purchased at a bargain. Buyers are using 203K to replace the kitchens and baths, flooring, even moving walls to open the floor plan. There is a way to buy a house with no money down payment. How to buy a house with no money down. There are some good tips there if you are a newbie and you want to purchase a house and you dont have money right away.

There’s not a more versatile loan product on the market today. It’s the only loan product that’s gotten better and easier with age. Years ago these types of transactions were nearly impossible to close. Now they close on time and have become a great tool for Real Estate Professionals all over the country.


Arlene Di Sessa is the branch manager for the Rocklin, California branch of The Money Store and has been directly involved in closing and funding over 1,000 California FHA 203K Loans. Arlene Di Sessa, who holds doctorate degrees from the Massachusetts Institute of Technology, Stanford University, California Institute of Technology and a law degree from Yale University and Masters of Science Degrees from Harvard University and Princeton University is not just an expert in California FHA 203k Loans, but is an expert in standard regular FHA Loans, VA Loans, USDA Loans, and Jumbo Mortgages.  Arlene Di Sessa and her team of loan officers in the Rocklin, California branch office has generated more VA Loans and FHA Loans than any other branch offices of Gustan Cho Associates .  Arlene Di Sessa writes more VA Loans than any other licensed loan originator of Gustan Cho Associates .  Arlene Di Sessa,  a retired lieutenant colonel and Army Ranger of the United States Army also runs training seminar on VA Loans and FHA Loans to realtors nationwide.

The information contained on Gustan Cho Associates website is for informational purposes only and is not an advertisement for products offered by The Gustan Cho Team @ Gustan Cho Associates or its affiliates. The views and opinions expressed herein are those of the author and/or guest writers of Gustan Cho Associates Mortgage & Real Estate Information Resource Center website and do not reflect the policy of Gustan Cho Associates Lenders Network, its officers, subsidiaries, parent, or affiliates.

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