FHA 203K Loan

Do you have a part of your home or land that you just can't stand? With an FHA 203K loan, you can clean that right up with some help in the financial area. There are two types of 203K loans, streamline and rehabilitation.

FHA Streamline 203K Mortgage

This is a limited repair program that permits homebuyers to finance an additional $35,000 into their mortgage to improve or upgrade their home before they move in. with this, homebuyers can get more cash to pay for their property repairs and improvements quickly and easily. These improvement needs can be suggested by a home inspector of FHA appraiser.

FHA 203K Mortgage

This is the HUD's primary program for the rehabilitation and repair of single family properties. This can be used to help neighborhood and community revitalization and help clean up those not-so-attractive areas. By using this loan and fixing up homes in neighborhoods like these it will increase the number of interested buyers in nearby households and increase the value of the properties in these types of neighborhoods.

Return back to the FHA Mortgage Center.com home or the FHA Lending Guide.