203k

[Dean Herbertz]

anyone done a 203k in the last few months, what was the timeline on closing

[Shawnn Lynch]

It's been a while, I use to use a mortgage lender who was direct endorsed with FHA and they would "spin" my loan request. It cost them a few bucks to do it, $275.00, but if they felt confident in the loan request they would do it. In essence they put all the info into the system and it spits out a guaranteed loan commitment with a list of the necessary docs that need to be in the file, kind of a checklist.. making the loan a commodity to be sold to servicing companies. Check the area for mortgage lenders who are direct endorsed with FHA. Always good to have a rep with them on file for when these things come up.Good luck.. Shawnn