FHA 203(k) Loans – purchase (or refinance) and renovate

Buying a home which needs renovation can be challenging. Lenders provide limited and expensive mortgages on homes which are in poor condition. The FHA 203(k) backed loans protect lenders by having the loan insured before the condition and value of the property provides adequate security. This reduces the cost to the borrower.

The program enables home buyers and homeowners to finance both the purchase (or refinance) of a house and from $5,000 to $35,000 to rehabilitate the home.


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