Pinnacle Hill Glendale, AZ - FHA 203k Rehabilitation Loan

The FHA 203K Rehabilitation Loan was started as a tool to help the revitalization of neighborhoods and communities throughout Glendale, Arizona and the United States. This loan program offers borrowers the resources to rehabilitate their home located in the Pinnacle Hill community in Glendale, AZ that may be in need of limited repairs and/or upgrades without exhausting their savings. This can be used for either the purchase of a fixer-upper or the refinance of a home they currently occupy. One single loan is used to pay for the purchase (or refinance) and the cost of renovating the home.

The FHA 203(k) loan is available to borrowers of all income levels who plan to occupy their house in the Pinnacle Hill area. This loan also opens the door for many Arizona first-time homebuyers and applicants with less than perfect credit, while still allowing for low down payments. Properties eligible for this product include any single family residences, condominiums, manufactured homes, townhouses and properties with one to four units located in the Pinnacle Hill area in Glendale, AZ.

The Streamlined 203(k) program is intended to facilitate uncomplicated rehabilitation and/or improvements to a home for which plans, consultants, engineers and/or architects are not required. The repair costs can be up to $35,000 and there is no minimum requirement. (***Please note that there are also 203(k) loan programs available without a maximum repair cost amount and additional improvements capabilities.)

The following is a list of some of the eligible improvements and/or repairs:

••- Repair/Replacement/Upgrades of roofs, gutters, HVAC systems, plumbing, electrical systems and flooring
••- Minor remodeling of kitchens and bathrooms
••- Purchase and installation of appliances
••- Painting - exterior and interior
••- Weatherization including insulation, weather stripping, storm windows and doors
••- Window and door replacement and exterior wall re-siding
••- Lead based paint stabilization and abatement of lead based paint
••- Repair/Replace/Addition of exterior decks, patios and porches
••- Repair to existing swimming pools up to $1,500
••- Repair/Replacement of septic system and wells
••- Accessibility improvements for persons with disabilities
••- Finishing/remodeling of basements, not including structural repairs

The actual cost of the renovation is based upon the contractors' accepted contracts specifying the scope of work, cost of materials and labor and timeframe. All repairs must be completed by a contractor within 3 months of the closing date. Borrowers are required to have the necessary expertise and experience to perform work. Please feel free to contact the Krushinsky Team at 623-594-7600 for any additional questions related to the FHA 203K Rehabilitation Loan in Pinnacle Hill.

Is This Really Arizona?

•Desert
•Cactus
•Scorpions
•Rattlesnakes

These are all the things that come to mind when you normally mention the name Arizona. Having been born and raised in Arizona, there are many more things to do here. At the time of writing this article it's 113 degrees outside in Phoenix. This is the time of year to find a nearby lake like Lake Pleasant, Canyon Lake or Saguaro Lake and enjoy some water activities. There is also a newly built water park, Wet-N-Wild, that just opened in July to take the kids to for keeping cool. Another popular activity often referred to as "Arizona's Floating Picnic" is tubing down the Salt River.

During the winter months, you can enjoy skiing at Arizona Snobowl in Flagstaff and Sunrise Park Resort in Greer. These facilities are also open in the summer months for activities such as hiking, mountain biking and just enjoying nature on a scenic lift ride. Oak Creek Canyon and Sedona provide nice weekend getaways for golfers, nature enthusiasts and even power shoppers. Sedona is often referred to as "Red Rock Country" because of the beautiful red-rock monoliths named Coffeepot, Cathedral and Thunder Mountain that surround the city.

A popular local hangout is the newly constructed Westgate, in Glendale, located adjacent to the Arizona Cardinals stadium. Westgate offers activities such as dining, shopping, a fountain park for the kids, and a movie theater.

Known primarily for the "Grand Canyon" this beautiful state has much more to offer for someone looking to purchase a home in Phoenix. With real estate prices in some Phoenix neighborhoods dropping to prices not seen since 1997 and favorable interest rates, now may be the time to take advantage and buy the home you have always dreamed about. First-time homebuyer loan programs and the $8,000 tax credit is also currently available to applicants who qualify.