203k: The Homeowners Best Friend for Remodeling

We all need a best friend. Best friends help when we're down, laugh with us when we're happy and even give advice and tips from time to time. Anyone who owns a home and wants to make upgrades to it needs a best friend to help figure the process out. The 203k is a homeowners best friend for financing home improvements.

Whether it's replacing an old deck that you step through because of the rotting boards or replacement windows for the single-pane ones that barely qualify as windows, refinancing into the FHA option of the 203k could be the answer to your prayers.

Homeowners can refinance their current mortgage and pay for remodeling projects like:

• Replacement windows
• Kitchen remodel (including appliances)
• Bathroom remodel
• Design & build a deck
• Porch or 3-season room
• Re-paint the house
• New carpet/linoleum/laminate flooring
• Roof repair
• Termite damaged sill plate replacement

The list goes on and on. In fact, you can even pay for a new driveway with the 203k in certain situations. You can finance these home improvements into your new mortgage at about $6/month extra for every $1,000 in work you want to do. So instead of paying high interest on store credit or credit cards, you can finance your home improvements into the mortgage. Not a bad deal. Kind of makes you feel like the 203k could be your best friend, huh?

Learn all about some of the best remodeling ideas for this time of year - DIY and financing-ready - and how to decide what's right for you. Download "The Complete Guide to Spring Home Improvement Financing" at the button below. The free eBook has 10 DIY projects and 10 "need help" ideas that the 203k can help make happen for you. Get your free guide today.

(kitten puppy: Flickr user Paul J Everett)