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Updated about 4 years ago,
203k full/ limited questions
So I am going through the 203k full refinance And loan process. I had a bid from a contractor for about $120k of work and a successful appraisal of our house. We owe 198k house appraised for 280k as is and 350k after repairs are completed.
However our contractor bailed on us before closing and I am struggling to find other contractors to take this job. so now I am wondering on what my options are? Knowing my house has at least 80k of equity.
1. Can I possibly do refinance into 203k limited to get 35k of work done without the extra hassle of full loan and do another 203k limited refinance in a year or two? I figure breaking up the work into smaller chunks might easier because I can pay contractors up front with limited loan?