Buying A Home
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Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Anyone ever used an FHA 203K loan
Please tell me the whole process? What documents are you asked to provide? How long does it take to close? How does it all work?
Re: Anyone ever used an FHA 203K loan
We did an FHA loan for 132K.
We had to provide driver liscense, SS card, student loan paperwork, taxes, employment records or paycheck stubs, and proof of insurance. I think that was it.
We closed in 60 days but we asked for the extension since we were in a rental.
Be prepared to communicate a lot with the realtor and the banker.
The 203k loan is different than a "regular" FHA loan, it incorporates the cost of repairs into the loan price.
OP, sorry I don't have any information, all of the paperwork & the timeline scared us off
DIY & Home Decor Blog
The FHA 203K Renovation Loan is a great option for those looking to purchase a home that needs a little work. It allows for a 3.5% Down Payment and includes the cost of the repairs along with the purchase funds needed to both purchase and make the fixer-upper into the home of your dreams. My name is Josh Beach, and I am a Licensed Loan Originator in VA, MD, and DC specializing in FHA 203K Loans. Please feel free to call or email me for more information!
Here are some helpful links:
To pre-qualify with me for this program: www.HomesteadFunding.com/jbeach
FHA 203K Renovation Loan Steps: http://www.homesteadfunding.com/products/FHA203K
I hope this helps!
Josh Beach, Licensed Loan Originator | Homestead Funding Corp.
NMLS ID#1010350
Cell: 703-861-0361
Office: 703-364-5004
3998 Fair Ridge Dr.
Suite 125
Fairfax, VA 22033