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The fresh new OHFA Ree: the brand new FHA 203(k) loan It permits users to combine home loan and you may recovery will cost you towards the one long-title, fixed-rates mortgage for them to spend the money for purchase and you can rehabilitation from their fantasy home. The total financial count have a tendency to account for the estimated value of the house or property immediately after all work is complete, together with work will cost you. RenovateOhio features a few additional conditions and terms compared to the OHFA applications in the above list. As well as with a credit score more than 640 and you will conference earnings and you may obligations-to-money proportion restrictions, the house or property must be a-one- to help you five-family home which had been…