FHA 203(k) loan

From Real Estate

The FHA has a program set up to rehabilitate and repair single family properties. This program is known as the FHA 203K loan. The loan is a great way to allow low income families an opportunity to own a house in a newer neighborhood to raise their children.

[edit] History

The FHA 203K loan program was started to revitalize properties for families to move into and live. The FHA 203K loan program has done wonders in the revitalization of neighborhoods and communities in desperate and run down areas throughout the United States.

The FHA is committed to increasing homeownership in many of these areas. By lending money to lower income families and communities, the lenders show good faith to their commitment as well. Good or bad credit, 203K loans can be great for purchases of homes, regardless of equity.

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