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HUD Loans

Rehab Loan Options:  HUD 203(k) vs. Fannie Mae Homestyle Loan

Rehab Loan Options: HUD 203(k) vs. Fannie Mae Homestyle Loan

By on August 4, 2017 in HUD Loans, News

With today’s dwindling housing supply, many homebuyers are considering “fixer-uppers.” However, after closing on a traditional loan, many people–especially first-time homebuyers–lack the funds needed to make to make the required renovations. But thanks to the HUD 203(k) and Fannie Mae Homestyle rehab loans, the dream of owning a home is becoming a...

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Advantages of a HUD 203(k) Rehab Loan for First-time Home Buyers

Advantages of a HUD 203(k) Rehab Loan for First-time Home Buyers

By on May 16, 2017 in Home Inspections, HUD Loans

In this month’s Advanced Home Inspection blog, we discuss the many advantages of a HUD 203(k) rehab loan. With high home prices and low inventories throughout the state, many first-time home buyers in New Hampshire are entering the housing market with the help of a HUD 203(k) rehab loan. What is a HUD 203(k) Rehab Loan? The HUD 203(k) rehab loan is a specialized...

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What Is a HUD 203(k) Loan?

By on December 3, 2013 in HUD Loans

HUD’s Section 203(k) loan program is one of many FHA programs that make mortgage credit available to borrowers who are buying or refinancing houses in need of repair or modernization. Unlike conventional rehab programs, the 203(k) has the same relaxed credit- and income-qualifying and low-down payment guidelines as other FHA loan programs. The program is ideal for...

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