+1 vote
We're looking to put an additon on our existing house, and wanted to know the best route to take financially.
asked Mar 21, 2018 in FHA Loans by SAP

1 Answer

0 votes
FHA 203k Loans are the best loan program for home renovations.  It is a acquisition and construction loan all in one closing. In your case, the FHA 203K Lender will pay off your existing mortgage and give you contruction funding. Once the renovations are done, it turns into an end final 30 year fixed rate FHA LOAN.
answered Mar 22, 2018 by GustanCho (106,540 points)
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