What’s are the advantages of a 203K FHA?

[Alex Gallardo]

What are the disadvantages and advantages of a 203K FHA and the same for a regular FHA ? Thank you

[Shawn Clark]

FHA is easier on the borrower. Conventional is easier on the property.

203(k) gives you the ability to roll future value into the initial loan by including construction cost.

The downside is that you can’t do any of the work yourself and it must all be done by a single GC normally. So it can be more expensive unless you already have the right contractor and plan on doing it that way anyway.