Home Buying in Alliance>Question Details

Tina, Home Buyer in Alliance, OH

i am interested in using streamline too, is it true that you can use 203k to purchase the home?i found a hud

Asked by Tina, Alliance, OH Wed Jul 16, 2008

home for 15,000,but i want to submit my bid for 8,000 would that be wise?

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Answers

2
Yes you can use a 203K to pruchase a home and get the funding you need for those repairs/updates your are looking for. New Penn Financial would be happy to assist you in this process. Medina Ohio

Kevin Kasian
NMLS#171291
New Penn Financial
866-685-7476 ext 2301
http://www.newpennfinancial.com
0 votes Thank Flag Link Tue May 17, 2011
Hi Tina,
The 203K programs are fantastic programs for homes that need repairs/remodeling.
They are FHA loans.
On a HUD home, you will need to have your financing package preapproved before your bid is submitted by your Realtor.
Very important to get an accurate & complete estimate for what it will cost to make the home habitable to the level that you feel comfortable with!
If I can be of assistance, check my website at http://www.CallRealtorJohn.com
0 votes Thank Flag Link Fri Jul 18, 2008
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