FHA proposes changes to 203(k) program
Housing Wire
NOVEMBER 30, 2023
The 203(k) Rehabilitation Mortgage Insurance Program helps borrowers purchase a home or refinance an existing mortgage and includes the cost of repairs or rehabilitation into one new mortgage. For the preparation of work write-up, consultants may charge up to 1% of the repair costs or $2,000, whichever is lower, for repairs over $140,000.
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