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The Guarantee is non-transferable and does not apply to loans obtained to purchase a new property, new loans that result in the creation of a separate lien on the current property (i.e., a “home equity loan”), renovation loans, bond loan programs, down payment assistance programs or personal loans (i.e., loans that are not secured by the.
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If you are buying a home in Tomball that needs minor or major upgrades, an FHA 203k Loan is one of many Texas rehab loan programs that includes funding for home renovation costs in the original loan amount, at the time of purchase.
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