Finance
An FHA 203(k) loan in Utah is used for:
APurchasing vacant land only
BPurchasing and rehabilitating a property using a single loan✓ Correct
CBuilding a new home from scratch
DRefinancing commercial properties
Explanation
The FHA 203(k) loan combines the purchase and rehabilitation costs of a property into a single mortgage, making it useful for buying and renovating older or distressed properties in Utah.
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