I used the FHA 203k Renovation loan for the duplex I invested in/House Hack currently. If you're still looking for advice I'd like to help. It worked out well for me. It's just very strict in what renovations are done, who does them, and when they need to be completed. The bank pays the contractors directly
Real Estate Agent · Tempe, AZ · Member since 2011 · 1k+ posts · 543 votes
5y
@Ryana Munford The Homestyle reno loan is almost identical to the 203k regarding timelines, processes, paperwork, etc. There are some rehab items that you can do on a Homestyle that you cannot do on a 203k, and the Homestyle can be used by investors where the 203k is only for owner occupants.
The Homestyle is basically (not exactly) the conventional version of the FHA 203k.
You use the same type of lender, reno consultant, and contractor.