Thursday, January 12, 2012

I am approved for 100,000 FHA loan I found a house I like but needs some impovements will the loan cover that

It depends on what the house is selling for and if you want to take out the whole 100,000 for your loan. If the house is being sold at 80,000 and you want to take the whole loan, then yes, you could use the other 20,000 for repairs or what not. Just remember the more you borrow the higher your mortgage payments are going to be.

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