Unlikely 203k property? Maybe yes, maybe no - Sacramento to Oakland
Learn what properties qualify for the FHA 203k program.
When you think of a 203k you likely think of a small house in a rough neighborhood as for many years that is exactly what it was. Not true any more...
Typical house for the FHA 203k loan program -
This is a 203k potential home for sure.
How about the one below? It is also an FHA 203k...
Who would have guessed?
These two homes pictured above have a commonality of both being in the process of an FHA guaranteed 203k loan. The 203k can be used for any home in nearly any neighborhood today and is the most widely used loan program for properties requiring repairs. You must make arrangements to get the repairs done on a home that needs repair so what simpler way to do so than this program.
How about this one? Yep, it was another 203k project.
The properties dont' have to be bad properties in rough neighborhoods. The maximum loan amounts in many counties allows you to take advantage of making renovations with your purchase or refinance at low rates making this the most popular renovation loan program in the USA and our colonies.