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Can anyone give me the lowdown on 203k loans, timelines, etc?Thanks

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October 20 2009 - Willow Glen
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Profile picture for Marvinloans

You can get all of that information at this... FHA 203k Website  and the
FHA 203k Blog


Good luck.

 
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October 21 2009
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Usually 45-60 days to close.  Funds for the work is set aside in an escrow account and disbursed as work is compeleted.  After closing it seems to be taking 4-6 weeks to start the draw process.  Rates are a little higher than a standard FHA and the loan amount is based on the aquisition costs (Purchase Price or current value + work to be done).
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October 20 2009
 

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QuestionCan anyone give me the lowdown on 203k loans, timelines, etc?Thanks
  • Latest answer by Marvin Hernandez
  • October 21 2009
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