If you're a homebuyer looking to purchase a property that needs some repairs, or a homeowner who wants to renovate their existing property, you may be interested in the 203(k) loan program. This loan program, offered by the Federal Housing Administration (FHA), allows borrowers to finance both the purchase or refinance of a home and the cost of repairs or renovations in a single loan. In this blog post, we'll go over the basics of the 203(k) loan program and how it can benefit borrowers.
What is a 203(k) loan?
The 203(k) loan program is a type of FHA loan that enables borrowers to finance both the purchase or r...