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Has anyone gotten an FHA 203k loan?

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CreditGuy03
Established Contributor

Has anyone gotten an FHA 203k loan?

How much money out of pocket did you have to pay seperate from the down payment?

 

How long was the process?

 

Was it worth it for you?

Equifax - 628, Experian -627, Transunion- 654 In the garden until 01/01/2019
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1 REPLY 1
Anonymous
Not applicable

Re: Has anyone gotten an FHA 203k loan?

We are in the process of getting an FHA loan for around 200k.  No out of pocket expenses so far except for the fee for the inspection.  There are about $3,000 in fees for this type of loan, but they are being worked into the mortgage.  We paid $2,000 earnest money and need to bring about $5,000 to the closing table for the remaining down payment and that is it.  Our seller is paying $6,000 in closing costs.
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