The FHA 203k Rehab Loan is a loan for the buy and renovation of a property, you can also use it to refinance a property you already own and renovate or improve it.
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FHA 203K Rehab Mortgage Loan – Buy Or Repair Your Home! | Get Me …
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Tags: already-own, also-use, FHA, FHA 203k, purchase, rehab, rehab loan, renovate-or-improve, the-purchase
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With the help of the FHA's 203k renovation financing loan program, Meyer folded about $100000 worth of repairs and improvements into his $422000 mortgage. He had bought the home for $320000. ?I would not be able to pay a contractor $100000 and buy ... At a time when equity loans are hard to get, the program can also be used as a refinancing vehicle for borrowers who want to do repairs and improvements, provided the value of the home is greater than the value of the loan. ...