Posted by JohnD(CO) on November 12, 1998 at 21:56:09:
You need to demonstrate that the property needs at least $5000 in repairs to do a 203K loan. In the markets I have lived in, HUD’s advertising has indicated which homes will/will not qualify for 203K financing.
203k loans - Posted by Vince L
Posted by Vince L on November 12, 1998 at 21:07:51:
Does anyone know if all Hud owned homes are eligible for the 203k incentives that HUD has available till the end of the year?
The incentives by the way are down payment for as low as $500 and the R.E. agent gets an additional $500 for adding a 203k to the mortgage.