203K Loan For Refinance

[Mitchell Krotz]

Hello,

I am looking into refinancing my house into a 203k loan so I can complete the rest of the work I would like done on my house all financed through my mortgage payments. I do not have enough equity yet built up in it to lake out a HELOC. Has anyone used this process? Looking for who they used for a refinance and if there are any contractors they would recommend. The house is in the Hilliard area!

Thanks!

[Alan Fitzpatrick]

As for the 203k loan, I don't have experience, but I've heard it can be very hard to find a contractor because of the strict guidelines in place. And because pulls won't happen until a certain requirement is met, you may end up using your own money at various points if the budget isn't correct.

Hopefully someone knows more!