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Updated over 5 years ago on . Most recent reply

Ondrej Brown's profile image
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Ondrej Brown
  • Rental Property Investor
  • from Cleveland, OH
  • Member since Aug 30, 2019
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Ondrej Brown's profile image
Ondrej Brown's profile image
Ondrej Brown
  • Rental Property Investor
  • from Cleveland, OH
  • Member since Aug 30, 2019
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Ondrej Brown
  • Rental Property Investor
  • Cleveland, OH
46
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149
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Private Lending & Conventional Mortgage Advice

How Rehab do a FHA loan usually cover when rehabbing property ?

Ondrej Brown
  • Rental Property Investor
  • Cleveland, OH
Posted

What percentage does a FHA loan usually cover in rehabbing a property?

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Latasha Griffin's profile image
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Latasha Griffin
  • Rental Property Investor
  • from Atlanta, GA
  • Member since Feb 13, 2019
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Latasha Griffin
  • Rental Property Investor
  • from Atlanta, GA
  • Member since Feb 13, 2019
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Latasha Griffin
  • Rental Property Investor
  • Atlanta, GA
68
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Latasha Griffin
  • Rental Property Investor
  • Atlanta, GA
Replied

@Jacob Sampson the FHA 203K loan product does provide financing for purchase + rehab for a total loan amount up to 96.5%. Borrower will need to put down 3.5% of total loan amount, but seller can contribute up to 6% towards buyer's closing costs. Rate is also slightly higher for 203k vs 203b (regular fha loan) due to the increased risk.

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