What lenders are providing FHA 203K loans in Florida?

Asked by Lorena Ortega, Oviedo, FL Wed Apr 1, 2009

Many banks are not doing FHA 203K loans in Florida because of the complexity and the follow up required on these kinds of loans however they are very convenient since most of the properties available for sale in the market are distressed ones.

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16
Skylerasue, Home Buyer, Fort Worth, TX
Wed Jul 22, 2015
You can find a complete list of FHA 203K lenders on the HUD website. You can search for lenders that have closed on at least one 203K loan in the past year. This indicates that they can handle renovation financing.

More information is online at : http://fhamortgageinfo.com/
2 votes
Find the complete list of Florida FHA lenders with expertise in handling 203(K) loans here: http://203klenders.org/florida-fl/
Flag Tue Jul 26, 2016
Prosper Real…, Agent, Tucson, AZ
Wed Oct 26, 2016
Haven't heard of this being a problem whatsoever in Florida. If you're having issues finding a lender I'd suggest Home Loans For All. That's where we send quite a few of our clients. Very good results in the last year we've been using them. I'll include their website.


Best of luck!
Web Reference:  http://homeloansforall.com
1 vote
Andy Wood, , Florida
Thu Feb 27, 2014
Hi,

I have specialized in FHA 203K for 21 years and it is about 90% of my business. I am in the Tampa area, however, I service all over Florida. I also teach a 3-hour CE to Realtors on how to use the program to increase their business that has been taught to over 5,000 Realtors at nearly 40 different associations in Florida.

I have a lot of information on my website http://www.titanhl.com if anyone is interested in learning more. We do full and streamline 203K and they all close within 30-45 days with some even as low as 16 days. Please feel free to give me a call or email me if you have any questions!

Andy Wood
727-410-9663
awood@titanhl.com
http://www.titanhl.com
1 vote
Jacqueline C…, , Orlando, FL
Tue Apr 28, 2009
I work with several lenders that provide the 203K loans. Since most of my clients use down payment assistance, the repairs have to be completed within 30 days of closing. As you may know, 203K streamline, which can be used for minor repairs and renovations, requires the repairs to be completed within 90 days of closing. The regular 203K is used for more extensive repairs. There is a mininum escrow/repair requirement of $5,000, with the repairs to be completed within 6 months.

Most banks are not offering 203K loans because of the escrow requirements and post closing disbursements. Unfortunately, as a result of this, the lenders that are able to process these loans have underwriting times beyond the norm.

The upside is because of the foreclosure market, 203K loans are a godsend to buyers who's pockets are thin. It is my opinion that these loans will help to continue the market turnaround that we in Central Florida have been experiencing.

Jacqueline Clarke
Down Payment Assistance Specialist/Loan Officer
Enterprise Mortgage Group
Winter Park, FL
Cell: 407-739-3853
1 vote
Nonew, Home Buyer, Oviedo, FL
Mon Dec 12, 2016
Hi, is there anyone familiar with Florida Hardest Hit Fund?
0 votes
Tsmom0819, Home Buyer, Oviedo, FL
Wed Oct 26, 2016
I would suggest that you call Titan Home Lending. They specialize in FHA 203K loan in Florida s as well as the conventional version of a renovation loan which the Fannie Mae Homestyle Loan. You can visit http://www.titanhl.com or call 727-410-9663.
0 votes
Johndavidada…, Home Buyer, Gainesville, FL
Tue Oct 13, 2015
imortgage is a direct lender that offers FHA 203k streamline, full K ( Consultant ) as well as FNMA Homestyle renovation and VA renovation loans. John Adams Team specializes in these types of loans specifically in Florida Georgia and Alabama. We can be reached at 904-639-5571 and a lot of product information and questions about renovation can be found on our teams website at http://www.johnadamsteam.com equal housing lender NMLS 442266
0 votes
Bishopleoloa…, Home Buyer, Charlotte, NC
Fri Oct 9, 2015
Hello
We are a Christian organization, formed to help people in need It helps, for example, financial assistance. So if you are going through financial difficulty or you are in any financial mess and you need money for start your own business, or you need a loan to pay debt or pay from your account to start a good business, or you find it difficult to get the loan capital from the local banks, contact us today on email Bishopleoloanfunds01@gmail.com for the Bible says "Luke 11:10 everyone who asks receives; He who seeks finds; and to him who knocks, the door will be opened. So don't let these opportunities pass you by because Jesus is the same yesterday, today and forever more. Please this for serious-minded and God fearing people.
0 votes
Bishopleoloa…, Home Buyer, Charlotte, NC
Fri Oct 9, 2015
Hello
We are a Christian organization, formed to help people in need It helps, for example, financial assistance. So if you are going through financial difficulty or you are in any financial mess and you need money for start your own business, or you need a loan to pay debt or pay from your account to start a good business, or you find it difficult to get the loan capital from the local banks, contact us today on email Bishopleoloanfunds01@gmail.com for the Bible says "Luke 11:10 everyone who asks receives; He who seeks finds; and to him who knocks, the door will be opened. So don't let these opportunities pass you by because Jesus is the same yesterday, today and forever more. Please this for serious-minded and God fearing people.
0 votes
FHA Mortgage…, , Jacksonville, FL
Thu Oct 8, 2015
FHA 203K loans do require a special skill set. Contact us below if we can assist with any FHA loans here in Fla.

FHA Mortgage Source
Florida FHA loans, 7 days a week
Ph: 904-302-6060
http://www.FhaMortgageSource.com
0 votes
COOKSTHE1, Home Buyer, Tampa, FL
Thu Mar 19, 2015
can you give me couple to call on?
0 votes
Lachulisimapr, Home Buyer, Hollywood, FL
Mon Feb 9, 2015
I took the class from Neighborhood Services to help with the purchase of our new home. However, there Are Not That Many Houses IN The Market On Good condition. So I heard about the 203k but I'm having problems to get a lender that combines the fha loan with the repair loan. Any suggestions?
0 votes
Are you still looking? I would be happy to help. 727-410.9663
www,titanhl.com
Best of luck to you,
Andy
Flag Thu Feb 19, 2015
Evelyn Parker…, , Oviedo, FL
Wed May 1, 2013
Embrace Home Loans -1-800-333-3004 Ext 3559 offers a very simple 203k loan..up to $35k
0 votes
Cherish Buch…, Home Buyer, Okeechobee, FL
Wed Jan 30, 2013
Marty,

Will he do out of town loans?
0 votes
Good morning. I'm not sure about out of town 203K loans and I'm not even 100% sure he still does them. My answer was given in 2009 and things change but either he can help you or point you to someone who can. His name is Mike Riley and he's with a different company than in 2009 but his direct number is still (407) 466-4847. also, if you good FHA 203K loans in Florida you will get a number of lenders. Hope this helps!
Flag Thu Jan 31, 2013
Will, , Atlanta, GA
Thu May 21, 2009
We can offer you a 203k loan in FL .
0 votes
Marty Hunt, Agent, Altamonte Springs, FL
Thu Apr 2, 2009
Good morning Lorena.

I'm not sure how many lenders are doing FHA 203K's but I know my favorite mortgage broker DOES offer the 203K's. You're correct that they take more time and are more complex but at times they are the best or only way to help a customer buy the home they want.

His name is Mike Riley and he's the President of Riley Mortgage. His office number is 407-236-0610 or 407-466-4847.

Good luck.

Marty

Marty Hunt, Realtor®, ABR, CRS, GRI, e-PRO
Realty Executives Seminole
Office: (407) 869-7779 Cell: (407) 619-2640
Toll Free: (888) 412-8681 Fax: (407) 869-8987
Email: mailto:marty@martyhunt.com
Web Site: http://www.MartyHunt.com or http://www.MyFloridaHomesMLS.com/marty
0 votes
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