fha 203k consultant idyllwild: FHA 203k loan - what is it?
- 02/18/12 12:50 PM
FHA 203k loan - what is it? The FHA 203k loan guarantee program for renovating your home or a new purchase
The FHA 203k loan guarantee program is a standard FHA loan (203b) with an additional “construction” component. That is to say you can purchase or refinance a property and get the money to renovate the property all in one low interest loan.
The lender actually loans their own money with a guaranteed from FHA that the loan will be paid in full under the terms of the loan or FHA will pay off the loan and take the property back.
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FHA 203k loan - what is it? The FHA 203k loan guarantee program for renovating your home or a new purchase
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