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FHA 203k Purchase Home Loan
Requirements
The Federal Housing
Administration (FHA), part of
the Department of Housing and
Urban Development (HUD), administers
several single
family
home
loan programs.
These mortgage programs operate
through FHA-approved lending
institutions who submit forms
scheduling the appraisals of
the property and also have the
borrowers
credit
approved.
These banks fund the mortgage
loans which the Department insures,
(as the U.S. Department
of housing does not make direct loans to
help people buy homes).
If you are one
of the many U.S. residents who
have overlooked buying a home
that needs cosmetic repairs
for lack of funds to fix them
up, the FHA has a loan
program for you.
The
FHA 203k loan program
is the Department's primary
program for the purchase and
rehabilitation and repair of
single family properties. Basically
this is a home improvement loan
added to the purchase price
of your home. Therefore,
this is fast becoming the most
popular
FHA Loan Program for
expanding homeownership opportunities.
Since these are the primary
goals of HUD, the Department
believes that FHA 203k
loan is an important program
and they intend to continue
to strongly support the program
and the banks that participate
in it.
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FHA Loan Information
The FHA
does not lend money.
The FHA (Federal
Housing Administration)
is part of HUD &
backs individual Approved
Lenders.
Note:
We are not affiliated with
the Federal Housing Administration,
the Department of Housing
and Urban Development, or
any other government agency.
We are an FHA Educational
Resource.
Our
goal is to help you find
the best FHA Approved
Lender who can help
you secure home financing.
When
you fill in our short application
we will provide your information
to one, (and only
one!) FHA
Approved Lender who
can help you based upon
many factors, including
your Credit Score,
your State Location,
and the Type of Loan
you apply for
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more
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