Home Buying in Philadelphia>Question Details

Tolani Onigb…, Home Buyer in 20770

How do I go about finding a buyer's agent who understands how the FHA 203(K) loan program works????

Asked by Tolani Onigbanjo, 20770 Thu May 14, 2009

I am looking to purchase a home in early January 2010 in Philadelphia, PA because of a potential job opportunity in the Valley Forge/King of Prussia area in June/July 2010 but I am unfamiliar with the city because I currently live in MD. I've done some research and the best option I feel for me is getting a FHA 203k loan because the purchase range I am looking at is between $25k and $60k and I know at that price point the property would probably need substantial rehab which the FHA rehabilitation loan allows for. I am willing to get a fixer upper so I just need help in finding an agent who could guide me through the process of finding a property, getting the work-up for the rehab and finding a reputable contractor familiar with the details of the FHA 203k loan that would be able to do the work in 6 months or less. I know it is a lot of info but if anyone can help I would appreciate it!!!!!!!!!!!!!!!!!!!!!

Help the community by answering this question:

Answers

2
Not only am I a real estate agent- but I also have a 203K loan and I am a 203K specialist. I work directly with a Mortgage company that deals with 203 K loans. Please be advised that you may have to do a lot of research once you have found a home that you would like to purchase with this type of loan. Most of the time you will have to act as your own General contractor and it can be time consuming. I also work with many 203K certified contractors who can walk you through the process.

Kem Bailey Smith
Keller Williams Main Line Realty
610-520-0100
Cell- 267-972-3879
0 votes Thank Flag Link Thu May 14, 2009
Hi Tolani

I am working with a buyer now that has obtain a 203k loan. My question is that you aren't sure whether you will be moving here or not correct? If you are going to move to philadelphia than give me a call or shoot an email.

Dawn Fussell
215-356-3926
dawn.fussell@realestate.com
0 votes Thank Flag Link Thu May 14, 2009
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2015 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer