The FHA 203K loan is designed to simplify the process of home repair financing. You can obtain this loan to improve your home. This is the perfect tool to simplify financing for home renovation.
The FHA 203K loan is insured by the Federal Housing Administration. Before this program came about, you are required to obtain a temporary loan for buying a home and another separate loan for home repairs. Completion of the repairs is required so you can obtain permanent financing for your improved home. (more…)