FHA 203k Loans Today

Foreclosures have struck communities across the country in the wake of the subprime meltdown and ensuing housing slowdown. While the FHA continues to garner headlines as an increasingly attractive lending option for prospective homebuyers, one of the agency?s lesser known programs may hold the key to helping to rebuild neighborhoods nationwide. Government loans are headed for a record year in 2009. The FHA?s traditional home loan program has grabbed significant market share in the last fiscal year. But its unique program for purchasing and refurbishing rehab properties is gaining momentum. The FHA 203(k) program provides qualified borrowers with fixed-rate and adjustable-rate mortgage options, which can be used for buildings anywhere from one- to four-family in size. Down payments, like t