FHA 203K Loans in University Place (South Grove) neighborhood in Houston, TX
An FHA loan is a type of mortgage loan that is insured against default by the Federal Housing Administration (otherwise known as FHA). Back in the 1930s during The Great Depression, the FHA loan was created by the government to stimulate the housing market make buying a home affordable again.
Yes. However, the property must be advertised that it is eligible for financing with a 203k loan. If the HUD-owned property is purchased with other funds, a 203k loan can be made after the property is in the buyers name. In this case, cash back will be allowed to the borrower for a period of six months from purchasing the HUD-owned property.
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Can I get an FHA loan in Houston for $199,000 with a FICO of 590? Find answers to this and many other questions on Trulia Voices, a community for you to find and share local information. Get answers, and share your insights and experience.
FHA 203k and other rehab home loans give buyers the advantage of shopping for a property in Houston based on location and affordability since many of their desired property upgrades and amenities can be added to the home within a short period after closing.
For additional information and details about the FHA 203(k) home loan program, contact our FHA mortgage experts at (346) 297-0516 or feel free to use the tools on the site.
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