FHA

FHA

FHA 203k FAQs

Here are some of the most frequently asked questions about the FHA 203k loan program. The FHA guidelines only require one bid for the work to be done, however, lenders may have additional requirements to make themselves comfortable. Depending upon the lender you could need more than one bid but there are certainly lenders that [...]

{ 0 comments }

Advantages of a FHA 203k Loan

We all know about loans and what they are capable of doing. It isn’t hard for them to give you a heart attack and it’s also not hard for them to boost you financially. A 203k loan is just like any other loan out there but it is used for a totally different purpose compared [...]

{ 0 comments }

Today’s market can be quite challenging, especially with so many short sales and bank owned properties being sold in “as is” condition. It’s bad enough that buyers must wait months before seeing a response to their offer or counter and after all of that waiting when the bank is ready to wheel and deal they [...]

{ 0 comments }

Can You Do The Work Yourself With an FHA 203k Loan?

Can the home buyer or the homeowner do the FHA 203k renovation work by themselves without a contractor? It depends upon your qualifications, the nature of the work, and each lender's guidelines. First let's focus on what HUD says you must have to qualify: You must have the qualifications to do the work. You'll have [...]

{ 0 comments }

Using Grant Programs in Conjunction With 203k Loan Financing

FHA allows certain approved grant programs to provide down payment assistance, even with the 203k Program. In some cases, it's possible to buy a home under market value, use the 203k loan to fix up the property, and use grant money for the down payment and all or part of the closing costs. It's also [...]

{ 0 comments }

As Seen On:

as_seen_on_featured
equal-house-opp