Definition of "203(k)"
  1. An FHA mortgage insurance program that allows homebuyers to combine both the cost of buying a house and the expense of its repairs into one loan
How to use "203(k)" in a sentence
  1. With the help of a 203(k) loan, they were able to buy and renovate their dream home.
  2. The couple utilized a 203(k) loan to finance both the purchase and restoration of the old property.
  3. A 203(k) loan can streamline the finance process when buying a fixer-upper.

Provide Feedback
Browse Our Legal Dictionary
# A B C D E F G H I J K L M N O P Q R S T U V W X Y Z