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Updated almost 10 years ago on . Most recent reply

Jeff Parkan's profile image
Jeff Parkan's profile image
Jeff Parkan
  • from Mission Viejo, California
  • Member since Mar 28, 2016

User Stats

7
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1
Votes
Jeff Parkan's profile image
Jeff Parkan's profile image
Jeff Parkan
  • from Mission Viejo, California
  • Member since Mar 28, 2016
Jeff Parkan
  • Mission Viejo, CA
1
Votes |
7
Posts
Creative Real Estate Financing

FHA 203k loan home condition

Jeff Parkan
  • Mission Viejo, CA
Posted

Hey everyone, I have a few quick questions.

What is considered to be appropriate renovations for a FHA 203k? Could it be used to just update a old retro home that hasn't been touched since the 60's or is it for legit repairs? Can i use any contractor to do the work? If Im in orange county and the FHA limit is $625,000 ( i think), is the value of the loan for the cost of house and sum of repairs to that limit or could it be $625,000 + repairs wrapped into the loan?

Thanks BP forum!

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