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Can an FHA 203k loan be used for a refinance?
Can an FHA 203K loan be used for a refinance project?The short answer is absolutely yes. Is a couple scenarios that we're seeing prevalent in today's marketplace.

1) first scenario is that you as a Realtor may have sold a home to somebody that needed work. It wasn't quite the house they wanted but they felt they could get by with it and fix it over period of time. You and I both know that won't likely happen. This family likely has a life and life goes on. In the hustle and bustle of everyday life you have to decide what will get done and what won't it done and quite often the home doesn't get repaired as quickly as everybody had hoped or thought it might be.
This is ideal for a FHA 203K refinance project. The owners of this home can refinance and get the money to repair appear the home all-in-one low interest loan. This is what we specialize in and were finding more and more situations like this exist than you might think. If you sold the home recently any time within the less several years you may want to touch bases with those people and see if they ... more

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