OfflineHas anyone ever heard of the 203K Loan Program?
Happy Hunting,
charlie-d
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LOAN PROGRAM
Posted on: Tue, 07/21/2009 - 21:21
Has anyone ever heard of the 203K Loan Program?
Happy Hunting,
charlie-d
Here's information http://www.hud.gov/offices/hsg/sfh/203k/sfh203kc.cfm to get you started. It's basically a rehad loan.
"I will NOT BE BROKE! ANYMORE!"
In the name of Allah, the Beneficent,
the Merciful.
22.He is Allah besides Whom there is no God: The Knower of the unseen and the seen; He is the Beneficent, the Merciful.
23. He is Allah besides Whom there is no God: the King, the Holy, the Author of Peace,the Granter of Security, Guardian over all, the Mighty, the Supreme, the Possessor of greatness. Glory be to Allah from that which they set up (with Him)!
24. He is Allah: the Creator, the Maker, the Fashioner: His are the most beautiful names. Whatever is in the heavens and the earth declares His glory: and He is the Mighty, the Wise.
Thanks. I was talking to my Agent about rehabbing a house and I said that I will look for a HML. That's when he mentioned the 203K. Thanks again Alana.
Happy Hunting
charlie-d
Also you may want to research further into Homepath Renovation Mortgage. Talk to a Mortgage Broker to find out all the details for this loan program in your area. Investors and owner occupants can qualify for it! It's offer by the FHA.
"I will NOT BE BROKE! ANYMORE!"
In the name of Allah, the Beneficent,
the Merciful.
22.He is Allah besides Whom there is no God: The Knower of the unseen and the seen; He is the Beneficent, the Merciful.
23. He is Allah besides Whom there is no God: the King, the Holy, the Author of Peace,the Granter of Security, Guardian over all, the Mighty, the Supreme, the Possessor of greatness. Glory be to Allah from that which they set up (with Him)!
24. He is Allah: the Creator, the Maker, the Fashioner: His are the most beautiful names. Whatever is in the heavens and the earth declares His glory: and He is the Mighty, the Wise.
I talked to the guy today and he said that you have to be the home owner to get that kind of a loan. Oh, well, I'll check out the Homepath way. If that don't work out, then I guess the only answer will be an HML. Thanks for all your help.
Happy Hunting,
charlie-d
We did a 203K several years ago, and it really was very easy, lots of paper work, but it is a good way to become a homeowner, and get some repairs done without using money from your front pocket. You have to get the property inspected, you have to use a licensed contractor, and if you don't use all the monies allocated in the loan you get it at closing after all the work is done