203 K for an FHA Loan

[phumanr]

All,

Lenders that do FHA, do they also do 203 K loans (rehab) as well? Or is this only for FHA foreclosures?

Thanks,

Phumanr

[primeonetx]

The availability of doing an FHA loan is not based on the property or its owner, it's based on the FHA approval and risk tolerance of the lender.  My company does them but we're not in all states.

Scott Drescher

[DallasLoanGuy]

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@phumanr wrote:

All,

Lenders that do FHA, do they also do 203 K loans (rehab) as well? Or is this only for FHA foreclosures?

Thanks,

Phumanr

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not all fha lenders ddo 203k..... and it isnt just for fha foreclosures.

i dont do the 203k loan.... not really a necessary product for enough situations.  an escrow holdback for minor repairs suit most people.