Applying For a 203K Loan: An OverviewJun 17 2013
If you’re looking to buy a fixer-upper, a 203K loan may be the answer you’re looking for. The FHA 203K loan program provides homebuyers the opportunity to buy and fix up a property, without exhausting their personal savings. Homebuyers can purchase a property and include whatever costs to make required repairs or desired updates, or to fully renovate the property, all into one simple thirty-year fixed loan.
For this week’s Mortgage Monday blog, we take you step-by-step through the 203K loan process, helping you decide if this loan is right for you.