My wife and I are very interested in pursuing a 203K type mortgage, but do not know where or how to start. I would appreciate any assistance you could offer. Thanks!
An FHA 203k mortgage allows improvements to be made to a home using an FHA insured mortgage. The borrower is able to finance the cost of the improvements with one mortgage. Since it is an FHA mortgage, it has a reduced down payment, FHA upfront and monthly mortgage insurance and the loan is subject to FHA loan limits in the county the property is located in.