203k's - Posted by RAP


#1

Posted by John OH on November 03, 1998 at 24:08:17:

“the loans are crummy due to the red-tape, high fees and costs, etc.”

These loans s*cked for investors. I spent six months getting one closed, and it was a bad deal all the way through.

Owner/occupants might have a different opinion, but with all the cheap money around I can’t imagine it’s worth the hassle.


#2

203k’s - Posted by RAP

Posted by RAP on November 02, 1998 at 15:57:00:

How do I locate lenders who know what this is. I have called at least a dozen and no one knows what I am talking about


#3

203k - Posted by charles (delaware)

Posted by charles (delaware) on November 02, 1998 at 23:13:40:

I looked into 203k before and was excited. Then I found they killed the investor portion of the program.

Everyone i have talked with has said the loans are crummy due to the red-tape, high fees and costs, etc.

Find a good mortgage broker or local bank or get owner financing.


#4

HUD website has a list of 203k lenders (nt) - Posted by John Behle

Posted by John Behle on November 02, 1998 at 22:54:13:

(nt)


#5

Or … - Posted by Redline

Posted by Redline on November 02, 1998 at 19:52:22:

Look up lenders that specially advertise 203k as part of their arsenal. They’re out there - you just have to find them.


#6

Re: 203k’s - Posted by Carol

Posted by Carol on November 02, 1998 at 17:26:22:

Find a RE broker who specializes in HUD homes and they will know. These are only good for owner occupied deals now, however.