Realty Times - FHA's Rehabilitation Program
This is a good article about the FHA's Section 203(k) loan program. For a homebuyer (investors are not eligible) seeking a "bargain" home that may need to be completely renovated, this program may offer an option that lets homebuyers finance both the purchase price of the home and the cost of renovation (rehab). There are restrictions on eligibility, how much can be borrowed, time period for construction, etc. For more information, see the information listed under "Home Improvements -- Federal Loan Programs" on HUD's website: http://portal.hud.gov/portal/page/portal/HUD/topics/home_improvements
A blog about real estate news and information in the Northern Virginia area
No comments:
Post a Comment