So you’re able to find the home with an equivalent step three.5% down payment out of an everyday FHA financing, based on your loan count. In some high rates parts the fresh downpayment may be 5%, but there is however zero big down-payment necessary to your a great 203(k) than you will find with the regular FHA financing system.

Plus the merchant can also nevertheless help you with your closure cost too…just like having a consistent FHA mortgage.

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