Tuesday, August 23, 2011 - Article by: MadisonMortgageGuys - MadsonMortgage -
Lots of information has been published on the internet and typical news outlets about the advantages of the FHA 203k loan. Without a doubt this is an excellent vehicle for buying an existing home and financing any needed repairs or improvements with one simple loan. However, the same type of loan can be used by people looking to refinance an existing mortgage to an excellent rate. Here are some of the top reasons why an FHA 203k loan could benefit homeowners in the current economy.
The FHA 203k loan comes in two varieties; the streamline and the conventional. The streamline version has a cap of $35,000 for repairs (the convention has not such cap). It also does not require inspections or reserves and has smaller fees charged to do the loan. Detailed program information can be found on our FHA 203k page of our website.
Contact us with questions:Toll Free: 877-240-5810 Email: questions@madisonmortgageguys.com
Didn't find the answer you wanted? Ask one of your own.