An FHA loan is an attractive option, especially for first-time homeowners:
FHA does offer the re-hab loan. Sometimes known as 203-K and also Homestyle loan. This is used for the person that finds a home in their ideal location but the home needs some repair work. This loan can take the existing home down to ¼ of the original basement & then the buyer can re-build the rest to his specific requirements making the home exactly what he wants.
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