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What does FHA uninsurable and 203k eligible mean?

April 26, 2017Business eligible Estate FHA Finance mean renting uninsurable

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What does FHA uninsurable and 203k eligible mean?

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203k eligible means the home is eligible for a 203k rehab loan. You can use the loan to buy and fix up the home with little or no money out of your pocket. You may only do this however with a home you intend on being the owner and occupant of, not for a rental, used to be allowed but not any longer. It really has no bearing on whether you buy the home for the rental, but does mean you will have to put some money into it for it to be habitable.