Anyone that is interested in doing a 203 k , please call me. Yes their are lenders that do them however; very few and are very difficult to find. Wells Fargo is no longer doing these types of loans since 2006. I find this strange since the Foreclosure market...a lot of borrowers wanting to buy homes that have been gutted from a mad homeowner that retaliating on their lender for not negotiating terms with them..or, a homeowner that did home imporvements and ran out of money, a builder that ran out funds...etc......I've been in the Mortgage Industry 28 years. I have processing and underwriting background. If you want to call an experienced Loan Officer then call me...I can help you with the process from start through finish. 949 291 5779 or e mail me kellett2008@yahoo.com

Amy,

The preceding answers give you a good idea that the 203k loan is still available. However, the number of lender that do them seems to have been reduced pretty significantly. A recent client that wanted the program had problems finding a lender. I see that Douglas said that Wells Fargo was still doing them, but I have heard that they closed down that department... so checking directly with Wells Fargo may be in order.

Good luck and be sure to update us with how your client fairs in their search.

Hi ,
The FHA 203k loan has never gone away, I know because i have originated over 200 of these loans since 1974. I am still originating them and if you want more information you can call me at 800-686-8242. I am also giving a FHA 203k presentation at the Orange County Association of Realtors on the FHA 203k program on August 27th. FHA 203k Specialist and senior loan officer-Alex Mukai

Amy-
We have an entire dept at Flagstar that handles 203k loans. Yes, they are typically handled directly through banks, not brokerages. If you would like so assistance getting your buyers a 203k loan, please feel free to call me.

Luke Allison
Flagstar Bank
828-777-8828

The 203k program is alive and well. You may have a problem finding a lender that offers it. My clients had to get an 203k consultant to drive 80 miles one way to do the overview on their initial estimate review. For what your clients need it looks like the Streamline 203k would work. A lot less paperwork but the amount of repairs need to be 35,000 or less.