203k FHA Regular vs. Streamlined and Purchase vs. Refinance Loan

[Taylor Johnson]

Two weeks ago, a good friend of mine recommended the BP podcast. Shortly after, I created a profile. I'm want to learn everything I can about real estate and real estate investment. And from doing some research, I came across a decent article on Zillow helping me better understand the 203k FHA Loan, the requirements, benefits and drawbacks.

If you have used this loan, which type would you recommend for a first time investor? How would you describe the process? What was the timeline? What road blocks did you plow through?

I would love to hear about your experience!

[Jason Million]

@Taylor Johnson There is a conventional product that is for investors. It's Fannie Mae's Homestyle Renovation loan. The min down for owner occupied is 5% and for investors it's 15% It will fund both purchase and renovations on the property. FHA 203K is just for owner occupied. I have originated lots of renovation loans, they are great loan products and are worth it in my experience. Let me know if you have any questions!