FHA 203k: Not Just a Purchase Loan – Refinance Options Available!
Many mortgage companies and banks are advertising their low rates for FHA 203k purchase loans. There is no doubt that for people looking to get a home in need of some modest repairs and updates the FHA 203k is a great financial move. However, that loan is not a purchase only type of mortgage. It can also be used for people who currently own a home and would like to refinance to a low rate while getting a small amount for some renovation projects.
Minimum Amount for Repairs
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