The Cinderella of Mortgages?
Posted by Metropolitan Group on Friday, October 15th, 2010 at 11:40am.The FHA 203(k) loan has been around since 1978 but according to many, has been underused and overlooked. Unfortunate given its strengths. It’s a loan program that gives buyers the benefits of an FHA loan – 3.5% down, good rates – with the added bonus of being able to roll some of the cost of rehabbing or renovating a property into the principal loan amount. This is a great option for buyers looking at foreclosed or neglected homes, although there are, of course, limitations and restrictions. For more on 203(k) loans, click the link below or send us an email!
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