203 (K) question

[Eusibius2]

I agree with StarryEyedSurprise, lender regs are much more strict than FHA's requirements. This is why it is so critically important to get a lender who has worked with these loans in the past, preferrably on a regular basis. When I was scouting for banks to get a loan, the first question I asked was if they had experience in 203k loans. The only reason I accepted my loan officer was because the 203k loan is the ONLY loan he worked with. He almost dropped me as a client when we were considering NOT doing a 203k, but in the end we did and we are still working with him. Ask loan officers for recommendations of who does them in your area - you'll be surprised how positive a response you will get.

[SLPASEK]

We are going through it too...everyday the Lender has new regulations/rules and we seem to keep getting caught up in them, we give them everything they need and then they need more because of their new regualtions! We are so exhausted! We need to get out of our rental! We would like to plan holidays and trips!