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217 Posts in 157 Topics- by 3203 Members - Latest Member: Unfarigoora

January 09, 2009, 09:03:06 PM
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Author Topic: 203K Loans for Foreclosures  (Read 600 times)
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lizandjer
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« on: June 28, 2008, 09:35:18 PM »
A lot of the foreclosures out on the market right now are in pretty bad shape.  Worried about financing a foreclosed home that will need a lot of rehab work?  You shouldn't be.  The Federal Housing Administration (FHA) section 203(k) program let's you roll both the mortgage and the rehab construction loan into just one mortgage loan at a long term fixed rate that lets you finance both the acquisition and the rehabilitation of the property.

Section 203(k) Program Details from HUD:

203K Rehab Loans
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mary159753
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« Reply #1 on: July 04, 2008, 02:57:27 PM »
Hi
You have done a good question, it’s really interesting. If you get any good reply, so please let me know. So I’ll also get some good idea.
Thanks for your future help.
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