This shortens the closing time by weeks. Try http://www.cfs-mortgage.com/203k for more information.
Best wishes for a smooth and timely closing...Jim
In addition, they may be correct, due to the additional paperwork, fewer banks offer FHA loan which means there could be a 3rd party involved as well.
45-60 days is a good turn around. Depending on the contractors and bank, and particularly the loan officer handling it, we've seen 90+ on some.
I know lenders that do the rehab loan and specialize in these, if you'd like to speak with them. Feel free to contact me anytime.