Updated almost 3 years ago on . Most recent reply
Can 203k FHA loan be used on a property out of state?
I am very interested in purchasing my first property, which ideally would be a three or four unit. However, I live in the state of California. I do not want to invest in the state of California. I was thinking of looking for something in Texas or other investor friendly states. I heard about the 203K FHA loan and I would like to use it. I don't know if you can use it on a property that is in a different state.
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The FHA 203k is for a primary residence and wouldn't work for an out of state investment property. If you need funds for rehab on a property out state you would be looking at something like a hard money loan.