http://orangecountyfloorkitchenbath.com/need-to-know-the-differences-advantages-and-disadvantages-of-a-203k-loan-vs-a-title-1-loan Orange County Floor Kitchen Bath Premier Store, Design & Installation Company. Wed, 30 Jun 2010 11:31:26 +0000 http://wordpress.org/?v=2.9.2 hourly 1 http://orangecountyfloorkitchenbath.com/need-to-know-the-differences-advantages-and-disadvantages-of-a-203k-loan-vs-a-title-1-loan/comment-page-1#comment-10363 Brother Otter Tue, 15 Dec 2009 14:15:10 +0000 http://orangecountyfloorkitchenbath.com/need-to-know-the-differences-advantages-and-disadvantages-of-a-203k-loan-vs-a-title-1-loan#comment-10363 The 203k loan allows you to roll the pre-estimated costs of renovations into a mortgage. You have to go this route when a mortgage is first put into place; can't do it after the fact. Add-on amount is limited to $35K The loan is insured by the FHA/HUD; lots of paperwork. A Title 1 loan is a renovation loan that you can take out at any time. The amount is limited to $25K. The loan is insured by HUD; lots of paperwork. There are also restrictions on who can offer these loans. The 203k loan allows you to roll the pre-estimated costs of renovations into a mortgage. You have to go this route when a mortgage is first put into place; can’t do it after the fact. Add-on amount is limited to $35K The loan is insured by the FHA/HUD; lots of paperwork.
A Title 1 loan is a renovation loan that you can take out at any time. The amount is limited to $25K. The loan is insured by HUD; lots of paperwork. There are also restrictions on who can offer these loans.

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