Building a duplex with a 203k loan
has anyone had an experience with a 203k loan? I'm wondering if I can do a 203 if I'm going to build a duplex I plain to live in and also is it worth the headache. Thanks in advance!
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Someone correct me if I am wrong but the FHA 203K loan is a rehab loan. Not a new construction loan. It is 2 separate loans rolled into 1. Purchase loan+Rehab loan. You won't be able to build a home bc I believe the limit is 30k worth of repairs.
Also, I have heard it is much more of a headache to go through and deal with, especially if you are handy yourself.