For many, buying a new home in the current economy is simply out of the question. While moving a house is an excellent secondary option when the time comes to head to a new area, it’s one that people often overlook simply because it, too, is a costly measure – if you don’t know how to get the most for your money, that is. What many don’t know is that it’s possible to use the FHA Renovation Loan Program to move a home in a way that not only saves you a significant amount of cash throughout the process, but which also gives you immediate equity in your property and provides a better buying experience all around.
What it Covers
The FHA Renovation Loan Program by no means pays for the full process of moving a house, but it certainly makes things cheaper by covering a broad percentage of the project and allows your budget a little more wriggle room in the long run. The loan works with you throughout the move, paying toward a range of services you’ll require.
- Foundation pouring
- Electrical connections
- Plumbing hookups
By getting you the cash required for these essential tasks with a minimal hassle, this loan allows you to enjoy your newly-transported home faster and with less stress than other methods.
Why It’s Better
These loans are designed specifically for those looking to rehabilitate older homes. They include the cost of not only purchasing the home, but for the rehab as well, so you never need to worry about taking out multiple loans to cover the cost of your overall move. Fortunately, moving a home can be considered a part of the rehabilitation process, which is what allows movers like yourself to take advantage of the loan program. They tend to offer more reasonable rates and immediate home equity as well, making them nearly impossible to beat.
Using the FHA Rehabilitation Loan Program for the purpose of moving a house can be tricky. That’s why it’s always wise to work with an experienced house-moving professional throughout even the beginning budgeting-based portions of your move.