Home Buying in 10703>Question Details

birdabc1, Home Seller in Yonkers, NY

What 203k loan?

Asked by birdabc1, Yonkers, NY Fri Oct 12, 2012

Help the community by answering this question:


It is an acquisition and construction loan for building a custom made foreclosure.

Jim Simms
NMLS # 6395
Financing Kentucky One Home at a Time
Web Reference: http://jamessimms.com/
0 votes Thank Flag Link Fri Oct 12, 2012
Hi, it is a rehabbing loan for homes that need serious work. There are two types, a regular and a streamline...the bank will lend additional money to you for the work needed if it will bring the home up to market values. There are specific criteria to qualify so do contact a reputable lender for full details.

Christopher Pagli
Accredited Buyer Representative
914 406 9023
0 votes Thank Flag Link Fri Oct 12, 2012
Perhaps your question was cut off...discuss with your loan officer....
0 votes Thank Flag Link Fri Oct 12, 2012
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