Key takeaways FHA 203(k) loans provide funding to finance both a home’s purchase and the cost of repairing it. If you qualify, you can obtain one from an FHA-approved lender. This type of loan is reserved for borrowers who intend to live in the home, not house-flippers or investors. There are two types of 203(k)
If it weren’t for loans backed by the Federal Housing Administration (FHA), it’s likely that thousands upon thousands of people wouldn’t have been able to afford to buy their first home. Over the past 90 years, FHA-insured mortgages have enabled lenders to accommodate underserved households. Yahoo Finance has researched lenders offering FHA loans, examined the