Can you use an FHA loan HUD 203K to buy and renovate a Invetment / rental property?
I bought an old house in Charleston IT is in very bad shape that I want to buy and renovate the house price is $ 69,500 Can I use thes types of loans financing the project. I have enough money for a good down payment, if no other way to go about this with the beautiful shell.
HUD FHA is for owner-occupied property. No investment / Tenancy. However, if the house is in poor condition and to be used for a primary residence at the time of closing, your attorney will provide funding each contractor to work at home. These funds will never go through you. Of course, apprasier outside the home must be greater than or equal to the value of financing loans.
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