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Updated over 9 years ago on . Most recent reply
CENTINNIAL POST: To live in a 203k loan property?
Hi all, i decided to use my centennial post to ask about Fha 203k loans. I'm planning a house hack (live in in my multifamily) and am looking at dilapidated/distressed properties. The 203k will help me fix it but would I have to buy with a live in ready apartment? What basics are nonnegotiable? Ie if I want to take a shower I have to have a water heater? Any thoughts.
Most Popular Reply
Yes we did. It is a long story but we were living in Louisville and commuting to Lexington to work. We were not eligible for financing for the amount of money we needed at the time so that was another reason for the 1 year deal. Plus we were originally working with a commercial bank who was not very helpful and we did not get to the community bank until the end. We decided to move into it to save money to throw at the renovations and work on it pretty much 24/7!
Liz