From my experience with 203k loans, the best advice is to use a lender that offers assistance via third party with 203k processing.
This shortens the closing time by weeks. Try http://www.cfs-mortgage.com/203k for more information.... more
This sounds like a high payment, unless the taxes and/or insurance are high. Or you could be looking at a 10-15 year loan, not a typical 30 year loan. Your loan officer should be able to explain what the break down of the payments and how long the loan is for.
I would suggest you tallk to your bank if your unhappy with your current loan officer.... more