Quick tip on 203k loans: As a potential home buyer, make sure that the HUD Consultant and the General Contractor who is doing the repairs and upgrades to the property, are not the same person. The HUD Consultant is supposed to be an independant third party who keeps the General Contractor in check. I’ve ran [...]
Tag Archives: 203k loan specifications
Structuring An Offer With A 203k Loan
February 22, 2011 – 10:12 pm
OK, I’ve heard many reasons why a Realtor or REO lender won’t accept a 203k loan contract offer. How do we combat this? We have a qualified homebuyer but their choice of financing is an issue. The main roadblocks are that the loan takes too long to fund, and that Realtors have heard nightmares about past [...]
