FHA 203(b) vs. 203(k) Loans: Key Differences Explained

FHA loans, including 203(b) and 203(k) options, offer low down payment requirements, easy credit terms, and low closing costs. These government-backed loans are suitable for purchasing or refinancing homes, with 203(k) loans specifically for properties needing rehabilitation. Credit score requirements vary based on down payment amounts, with no income limits. Both loan types require occupying the property as a primary residence for at least one year.

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