What is it?
The FHA 203k Rehabilitation Loan is a mortgage product guaranteed and insured by the Federal Housing Administration that allows you to purchase/refinance a home that needs improvement with a single mortgage. The requirements of 203k mimic the same qualifications for a traditional FHA mortgage.
Who can it help?
If you’re looking for a “fixer-upper”, or to improve you current home, and your qualifications do not fit conventional lending requirements this is the loan for you.