FHA 403K loans.How does this work?
Whats the advantages and disadvantages over a conventional loan?
- jwishzLv 71 decade agoFavorite Answer
Do you mean a 403 B??Source(s): @
- DonnaLv 44 years ago
Sounds like you may need to wait longer to get a house. You left off how much the house you are look for costs. Using your spouse and your income, the IBR should be 600.00 next year. I would enter in date into the IBR calculator and take that into the loan people to see that might help. Good luck
- 1 decade ago
I think you referring to 203k loan. It is FHA rehab loan that can be used purchase, rehab, refinance or improve the property. It is limited by state loan limits (you can find link to this info on site below). 203k streamline is much lighter on documentation but it is limited to 35K and usually is used to purchase fixers with FHA loan. More info on http://usastreamline.com/fha-203k-streamline/