Has anyone ever went with a 203K FHA mortgage?
Question by CoolCat: Has anyone ever went with a 203K FHA mortgage? How did that work out for you. Any details would be helpful. Best answer: Answer by glennI have seen several people try and fail. The reason most failed is that FHA required them to get firm and exact bids for the cost involved before the loan could be processed. A lot of the workmen will not give ironclad bids and will not allow the bids to be valid for so long a time. Perhaps if the repairs were not so vast or if the workmen had a much larger profit margin than normal so they could guarantee things- maybe then it would have worked out. I also know several people that tell me they have done this in the past and “everything was fine” but I did not see it done first hand. What do you think? Answer...
Read MoreThe Renovation Revolution: 203K And HomeStyle Mortgage Loans
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Read MoreRemodeling? Refinancing With a 203(k) Loan Can Help
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Read MoreLastest Fha 203k Mortgage Rates News
CFPB Addresses Death; Servicing News; New Investors Popping Up They are designed to enable retirees to borrow against the equity in their homes without having to make monthly payments as is required with a traditional "forward" mortgage or home equity loan. Under a … The current rate sheet reflects the … If you would like more informaiton please visit here…
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