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Updated almost 5 years ago on . Most recent reply
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From a 203k conventional loan to a conventional loan
I started the process for a 203 k conventional loan for a residential primary residence and estimated the rehab wrong. The rehab cost are more than I estimated which made the closing cost higher. In order for me to complete the deal, am I able to go back to a regular conventional loan to afford the down payment and closing cost? Thank you to those who reply to this question.
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@Jonathan Marrow The file has to resubmit again with new product-most of the lender has this requirement but you can ask your lender if they can flip to other product.