@Justin C Huggins yeah, FHA loans do have larger closing costs. The renovation consultant can also be pretty annoying too. You didn't mention what type of property you are looking at but if it's a single family home then the Fannie Mae Homestyle loan is a good option. Similar downpayment of 5% (as opposed to the FHA 3.5%) and the closing costs will be lower. Not ever lender offers it though. You may have to ask around. BUT if you are considering a 2-4 unit property then the FHA loan will only require 3.5% down and that Fannie Mae loan will require significantly higher down. Let me know if you have any other questions. Thanks!
That loan was mentioned, but the PMI was going to be double that of the 203K. And it is a single family home.
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