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fha loan: What is an FHA 203K?
- 04/12/12 10:16 AM
Many of my new agents ask me what is the difference between a FHA loan, FHA 203k, and how or why would they want one. After explaining it, I decided to post it the most simple explanation I could find. This is from ehow.com. I find their explanations on most any topic to be simple, inclusive, and easy to understand.
History
· Historically, FHA loans were created to boost home ownership sales by decreasing down payment requirements on mortgage loans. As a result, conventional non-FHA loans typically require down payments of 10 percent or higher, while FHA loans can require down payments … (2 comments)
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Many of my new agents ask me what is the difference between a FHA loan, FHA 203k, and how or why would they want one. After explaining it, I decided to post it the most simple explanation I could find. This is from ehow.com. I find their explanations on most any topic to be simple, inclusive, and easy to understand.
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