FHA Gives Boost to Home Buyers Who Rehabilitate OZ Homes

Friday, November 22, 2019 - 9:45am

The Federal Housing Administration will offer an incentive for borrowers who rehabilitate homes in opportunity zones, U.S. Department of Housing and Urban Development Secretary Ben Carson announced today. Starting Dec. 16, homebuyers seeking to purchase a home in an OZ can finance up to $50,000 of rehabilitation costs in their total mortgage amount through the Limited 203(k) Rehabilitation Mortgage Insurance program–an increase of $15,000 over the amount allowed for homes not in OZs.