FHA 203(k)

FHA 203(k) Renovation Loans in Texas: What Buyers Should Know

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A smiling young Texas couple and a mortgage professional in a navy blazer look over a renovation plan on a tablet in the partly remodeled kitchen of an older ranch-style home

FHA officials say a shortage of 203(k) consultants is holding back the program, and Limited 203(k) loans now allow more contractor draws. Here is how an FHA 203(k) renovation loan works for Texas buyers: Limited vs. Standard, eligible repairs, contractors, draws and the timeline after closing.

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