Our 203K Loan Rates Are Low & Our Process is Quick & Painless
Top Flite Financial is dedicated to helping the residents of St. Louis, Missouri find the best financial solution. With our 203K loan program, people in our hometown can afford to purchase a property and cover the cost for repairs.
What is an FHA 203K loan?
An FHA 203K loan is a loan backed by the federal government and given to buyers who want to buy a damaged or older home and do repairs on it. Here’s how it works: Let’s say you want to buy a home that needs a brand-new bathroom and kitchen. An FHA 203K lender would then give you the money to buy (or refinance) the house plus the money to do the necessary renovations to the kitchen and bathroom.
Often the loan will also include: 1) an up to 20% “contingency reserve” so that you will have the funds to complete the remodel in the event it ends up costing more than the estimates suggested and/or 2) a provision that gives you up to about six months of mortgage payments so you can live elsewhere while you’re remodeling, but still pay the mortgage payments on the new home.
The Top Flite Financial 203K Program
We’re here in Missouri to make the 203K home loan process a whole lot easier, with tools and expertise that will help guide you along the way, starting with our FREE 203K Loan Qualifier.
Our dedicated lending specialists make sure you know all your options, answering questions even after hours. We’ll help you clearly see differences between loan programs, allowing you to choose the right one for you – whether you’re a first-time homebuyer or a seasoned investor.
We offer some of the most competitive rates and require minimal overlays, helping our clients obtain manageable loans. With our 24-hour turnaround time, you’ll quickly receive news about your loan application.
The 203K Loan Process
Here’s how our home loan process works:
- Complete our simple 203K Loan Qualifier
- Receive options based on your unique criteria and scenario
- Compare mortgage interest rates and terms
- Choose the offer that best fits your needs