203K Contractor

There are many very reasonably priced homes on the market today that are bank owned (i.e. foreclosures or REO). Many of these homes were not properly maintained by their previous owners or have been vandalized or damaged while they have sat vacant. The homes that need renovation and repairs provide excellent opportunities for homebuyers because they can be purchased at significant discounts.  As 203k renovation contractor, Southstar Construction will perform all of the home rehabilitation and repair needs.

FHA 203k renovation loans provide the homebuyer with the funds necessary to rehabilitate the property without paying out of pocket.  As your 203K contractor, Southstar Construction will work with you to transform a home that is an eyesore into your dream home.

Renovation and Remodeling

Southstar Construction is a Georgia licensed general contractor. We provide residential and commercial construction and remodeling services. Some of the remodeling services we provide are:
  • Kitchen remodeling
  • Bathroom remodeling
  • Basement remodeling
  • Basement finishing
  • Additions
We also are qualified to make any needed repairs or differed maintenance issues, such as:
  • Roof replacement and repair
  • Deck installation & repair
  • Rotten wood replacement
  • Gutter replacement & repair
  • Carpet replacement
  • Window repair
  • Painting
  • Pressure washing
  • Plumbing
  • Electrical
  • Heating and air conditioning (HVAC)
 

Vandalism

We know that in many vacant homes have been vandalized and stripped of copper and precious metals. This type of damage can make a home seem unsightly.  Southstar Construction is here to put the home back together easier and more quickly than you may think. We routinely perform projects that involve completely re-plumbing, rewiring and, replacing heating and air conditioning systems. And of course we repair the sheetrock and repaint.
 
Southstar Construction has remodeled homes in Atlanta, Marietta, Kennesaw, Conyers, Lithia Springs, Powder Springs, Fairburn, as well as Fulton, Cobb, DeKalb, Douglas, and Rockdale counties.  Southstar Construction provides excellent customer service and communication with our clients while at the same time performing quality work in a timely manner.
 

203K Loan History

The U.S. Department of Housing and Urban development, also known as (HUD) was created in 1965. HUD’s main mission is to increase availability of quality affordable housing that is also sustainable. Within HUD there is the Department of Federal Housing Administration, also known as FHA. FHA was created in 1932, in the midst of the Great Depression. At that time, homeownership rates was very low (approx. 40%), and the qualification terms for buyers were very difficult to satisfy. And those who could qualify were limited to mortgage loans of half the property’s value and repayment terms were limited to 3 to 5 years.

 FHA was essentially created to increase home ownership. It does so by providing mortgage insurance to its approved lenders. This mortgage insurance protects lenders against loss in the event that the borrow defaults on the mortgage. By allowing lenders to bear less risk encourages lenders to issue loans to qualified buyers. FHA was stimulated the economy by increasing home ownership and development. 
203k is the main loan program for rehabilitation and repair of single family homes. The 203K loan product is offered by FHA-approved lenders.
Call Southstar Construction today at 404-587-1910 for all of your 203k Contractor needs!

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