FHA 203k Loan/Renovation

The FHA 203k is a renovation loan program that provides funds for both the purchase and renovation of a home.

There are two types of an FHA 203k loans.

1. The first is normal 203k, which is given for properties that need structural repairs such as a new roof or a room addition.
2. The second is the streamlined 203k, which is given for non-structural repairs such as painting and new appliances. The minimum Loan Amount is $5000.

 

Buying a Fixer upper?

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