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FHA 203K Loan for Home Improvements

January 14th, 2011

FHA continues to offer rehabilitation solutions for home improvement financing with the 203K loan.  This FHA loan program is unique and not that many FHA lenders offer the full array of this type of home financing.

The FHA 203K home loan is considered a streamlined rehabilitation home loan and mortgage insurance implications are applicable.  The 203K loan is different than your traditional home improvement loan that needs equity for eligibility, because it enables financing to 115%.  FHA loan rates may var, so check with your loan officer for current pricing.

If you have a borrower who is interested check their eligibility and refer to the FHA 203k guidelines from HUD.

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