Need 203K experts in Portland OR (PDX)

[Kelly Maestri]

Greetings! I'm looking for referrals in Portland OR for 203K specifically:

• a lender with solid transactional experience in 203k loans
• the person (contractor or consultant) who does the initial analysis and gets the bank the paperwork they need to finalize the loan process
• a contractor (design/build ideal but not necessary) who is 203k FHA approved

If I'm buying a Wells Fargo Bank foreclosure, does it make any sense to get a WFB 203k loan?

And I welcome any "how to's" or "what to avoids" for this process.

Thanks all!  

[Robert Bowles]

You might also want to look at FannieMae's HomeStyle loans. Works the same as the 203k except you can us it to purchase investment properties. The down payment is closer to conforming loans (5% owner occ, 15% investment, 10% second home), but if you have the down payment it saves you the upfront MIP and if you plan on keeping the property you can get rid of MI, unlike FHA, without refinancing.

I have done a few of each and from my side they both took the same time and effort.  Just another little used loan that borrowers can use, especially for buy and hold types (like me).