nh homes for sale: 203k renovation loan; what to look for when buying your New Hampshire home
- 05/01/12 06:58 AM
How to use a FHA 203k loan and what requirements for items you might overlook when searching for your new home
A 203k loan is simply a FHA loan with a twist. An ordinary FHA loan referred to as a 203(b) in the mortgage industry. Adding renovation or improvement costs to the loan you get a 203k. Through this loan program, renovations are completed after closing of Escrow by using a portion of the loan proceeds to cover improvement costs. Funds are held in a managed account with the mortgage company, earning you interest during the renovation … (0 comments)
|
|
|
|
;)
;)
