Looking for 203K funding in Houston, TX

[Courtney Downtain]

Hi BP team I am looking to purchase a SFH in north Houston area but all of the properties I am coming across require some rehab. I am interested in using a 203K FHA loan to purchase and rehab at the same time. Can anyone recommend a good lender in the Houston area that I can contact for this type of loan? Thanks all

[Jessica McKinney]

@Courtney Downtain if you're interested in a 203k you might also look at the Fannie Mae Homestyle renovation loan, its similar but has some benefits over the 203k in that it has a little less red tape on the type of improvements you can make, and doesn't have an owner occupant requirement. On the flip side the 203k is easier to qualify for. I'll pm you a few lenders I know that do one or both of these loans. also here's an article highlighting the differences. 

http://themortgagereports.com/21895/fannie-mae-homestyle-vs-fha-203k-renovation-loan