Conventional Rehab vs FHA 203k
Ok, I'm looking to purchase a home for the first time. I have been looking on the market and I have set my budget at 200k. All the homes around my budget needs repair. I was pre approve with an FHA loan but seems to me that I can get a better deal on a home and rehab it my style, for, FHA alone does not approve homes in need of repair. I would like a 203k FHA loan on a 165,000 home in need of a foundation repair. Would it be worth the effort? What is better? Conventional rehab or FHA 203k? Need help please! I'm only throwing a 8% down.