Rehabbing Your New Home with a 203k Loan
Prospective home buyers who are interested in jumping into the real estate market by purchasing a foreclosure may be put off by the abysmal condition of some of these homes. And, if you are not a do-it-yourself expert, then chances are a contractor will need to be hired to handle most of the work that needs to be done. Trying to figure out how to finance both a home purchase and a home rehabilitation project at the same time can leave you strapped for cash, however, the FHA has a program to help you do both.