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Can I Add Rooms with an FHA 203k Loan?

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Uploaded by on Mar 22, 2011

http://www.amerifirst.com/

The "new home equity loan" is the FHA 203k. This government-backed loan program covers renovations, rehabilitation, upgrades and other home improvements. Adding rooms to a home you live in now or one which you want to buy is covered under a 203k loan purchase or refinance. The 203k allows the borrower to roll construction into the life of the mortgage in order to create instant equity. This even includes great improvements like a geo-thermal furnace. Watch this Mortgage Minute with Joe Daly, leading expert on the FHA 203k loan program.

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  • WOW you can be upside down after the repairs and uncle sam will still back the loan! That blows my mind everything I think about it!

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