This great blog post by Steve Bergsman with Inman News discusses the FHA 203k loan program which is a little known loan program offered by the Federal Housing Administration. In this discussion, Steve compares the actual cost of maintaining a new construction home versus a distressed property, such as a short sale or bank foreclosure. In his blog, he visits the terms of the FHA 203k loan and how it could benefit a purchaser of a distressed home by incorporating remodeling and repair expense with the actual mortgage.
About Toni Hedstrom
I am one half of Hedstrom & Stamm Home Solutions, a dynamic real estate team with emphasis on home marketing utilizing our exclusive Home Ready Program.