Hi Rob,
Great questions...but you realize that getting a loan is based on things like each individuals credit history, Fico score and more...
So you need to chat with a mortgage banker that knows the system especially that specializes in 203k's and help you figure it out.
I know of a really good one that I've used for my clients...from people that want to gut their house from the bottom up to builders that have bought houses with one wall standing...
You can email me at lauranycrealtor@gmail.com and I will put you in touch with them. - Tue Dec 22 2009, 09:24