Your Guide To FHA 203k Benefits

Explore the benefits of an FHA 203k Rehab Loan

If you’re in the market for a fixer-upper, the best way to fund the purchase and renovation of your new home is an FHA 203k loan, also known as an FHA Construction Loan. It’s a popular choice with plenty of benefits, such as:

• FHA 203k loans are perfect for homes that need repair. You don’t have to spend so much upfront for repairs since financing already includes the funds for construction.

• Savings. A rehab loan helps you keep your savings while providing the funds to finance the rehabilitation.

• Low interest. FHA loans are popular because they have low-interest rates --frequently lower than what non-government-backed loans can offer.

• Enjoy great deals. Rehab loans allow buyers to purchase homes at a lower price.

• Customization. With an FHA 203k loan, you can upgrade your home the way you want it.