Home Buying in Louisville>Question Details

Johnnice Otis, Home Buyer in Louisville, KY

I have been trying to purchase a home do anyone know about the 203k financing program can anyone help thanks

Asked by Johnnice Otis, Louisville, KY Thu Mar 8, 2012

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7
Ditto to all the other responses
If you have the mind set to renovate ,that maybe the loan for you
I would welcome the opportunity to assist you with the purchase of your next home
I am a Broker in both Ky and In with over 35 years FULL-TIME experience
Call or e-mail me and I will get started helping you
Sue Moody
Re/Max Associates
soldbysue2@aol.com
502-693-3443
0 votes Thank Flag Link Thu Mar 8, 2012
Hi Johnnice

I agree with my colleagues. The 203K is a great solution for homeowners buying fixer uppers or wanting to renovate. I have a client right now who bought a $93,000 home and is about to make substantial renovations with 203k money. He had been with one lender but I was able to arrange a better deal with another. Shop around - it will be well worth your while. And if I can be of assistance feel free to call 502-254-9600.
Web Reference: http://www.metro1realty.com
0 votes Thank Flag Link Thu Mar 8, 2012
I have an in house lender, John Newtown, he is with Home Service Lending. Home Service is an affilate of Wells Fargo. He can do 203k or complete renovation loans if the place is a real fixer upper. Give me a cal and I can hook you up!
0 votes Thank Flag Link Thu Mar 8, 2012
Hi Johnice...I can help you! Everything Tim said below is absolutely correct...but there is a lot more to it. You'll need to get bids from certified and approved contractors and you & the house will have to qualify for the 203K. Wells Fargo is one of the best and there are a couple of types of 203K loans-one more streamlined than the other. Of course, there are other lenders who do 203Ks. If you're in Louisville and have a specific property in mind or just want to chat more about it, give me a call! I have a lot of renovation experience and will happily assist! You can reach me at 502-592-1098! This is a big step and renovation is a lot of work! The results, however, are well worth the wait!
0 votes Thank Flag Link Thu Mar 8, 2012
The 203K is a program that allows you to buy a house for, let's say $100,000 and mortgage in $20,000 for repairs making the total loan $120,000. There are loads of rules and hoops to jump through. You have to find a 203K lender, Wells Fargo is one of the best. Find a good Realtor or speak to some lenders and ask about the 203K loan and if they can do them.
0 votes Thank Flag Link Thu Mar 8, 2012
The 203K is a program that allows you to buy a house for, let's say $100,000 and mortgage in $20,000 for repairs making the total loan $120,000. There are loads of rules and hoops to jump through. You have to find a 203K lender, Wells Fargo is one of the best. Find a good Realtor or speak to some lenders and ask about the 203K loan and if they can do them.
0 votes Thank Flag Link Thu Mar 8, 2012
The 203K is a program that allows you to buy a house for, let's say, $100,000 and mortgage in $20,000 for repairs making the total loan $120,000. There are loads of rules and hoops to jump through. You have to find a 203K lender, Wells Fargo is one of the best. Find a good Realtor or speak to some lenders and ask about the 203K loan and if they can do them.
0 votes Thank Flag Link Thu Mar 8, 2012
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