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FHA 203k Renovation Loan for Frisco, TX I Frisco TX FHA 203k Renovation Loan

Special Government Home Renovation Loan Program using Frisco TX FHA 203K Loans. 
 Many are not aware of a special government loan program that is actually a part of FHA (Federal Housing Administration- a department within HUD). Existing home owners or potential home buyers can remodel and update their homes without having a higher cost second lien because of this FHA loan program. 
 "Luxury items" like a hot tub and a swimming pool are not allowed by this FHA loan program. Repaint, remodel cabinetry in kitchens and bathrooms, add wallpaper, replace appliances and flooring and even a add a room to an existing structure (which will increase the value of the homes square footage). 
 
 One of the biggest advantages to this government loan program is you have all of your acquisition or refinance loan with your improvement loan in one low interest rate, government guaranteed loan instead of two loans-  including a first and a second lien loan (which is always at a higher interest rate). 
 
The FHA loan program is called a 203K loan by the Federal Housing Administration. You can find information on the FHA website located here: 
 
http://portal.hud.gov/hudportal/HUD?src=/program_offices/housing/sfh/203k/203kabou 
 Lenders have to be approved by HUD in order to do this loan program. Due to the intricacies ... more

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