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Updated over 8 years ago on . Most recent reply

Miguel Romero's profile image
Miguel Romero's profile image
Miguel Romero
  • from Las Cruces, New Mexico
  • Member since Apr 29, 2016
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28
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3
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Miguel Romero's profile image
Miguel Romero's profile image
Miguel Romero
  • from Las Cruces, New Mexico
  • Member since Apr 29, 2016
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Miguel Romero
  • Las Cruces, NM
3
Votes |
28
Posts
Private Lending & Conventional Mortgage Advice

How to get a 203k loan

Miguel Romero
  • Las Cruces, NM
Posted
I came across a property that was just listed today. It is a 1500sqft, 3 bed, 2 bath bank owned foreclosure and they are asking $105k. However it will need a new roof, landscaping,stucco work and paint job. The comps in the area are in the 120k-130k. My question is... HOW CAN I GET FINANCING FOR THIS. How does 203k loans work and how hard is it to obtain. I currently own my own home and it is financed through quicken loans with conventional 15 year terms.
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