If you are planning on purchasing a home in this rough economy you'll definitely want to know about the FHA 203(k) loan program. It's a standard FHA home loan at the same rates and closing costs as any FHA home loan but it allows you, as a buyer or existing home owner, to finance the costs of rehab or upgrade into the loan amount.
One thing the FHA 203(k) home loan will not do is allow you to add on to the existing structure. In fact there can be no structural repairs or upgrades. The FHA 203(k) will allow you to replace windows, put on a new roof, paint, carpet, upgrade a kitchen, re-plumb ... many other things.
Check out the FHA 203(k) information at the link provided for Georgia and Florida home loans.
