Buyers who purchase a home in a qualified opportunity zone can use the Limited 203(k) program to finance rehabilitation costs up to $50,000 into the total mortgage amount. That is an increase of $15,000 over the maximum amount of $35,000 allowed through the program on single-family homes that are not located in opportunity zones. The FHA 203(k) loan is a great way to buy a home that needs renovations when a buyer doesn’t have the upfront cash to do them (whether the home is in an opportunity zone, or not)...contact the Thomas & Kauffman Team to find out more.
Full Article here: FHA Increases Rehab Loan Limits for Opportunity Zones
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