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Updated over 7 years ago,

User Stats

147
Posts
38
Votes
John Spina jr
  • Contractor
  • Staten Island, NY
38
Votes |
147
Posts

203K Loan - need more information for a General Contractor

John Spina jr
  • Contractor
  • Staten Island, NY
Posted

General Contractor looking to expand and get off my feet. Assuming I wanted to do a flip. Its obviously an investment property. So does that mean i need 20% - 25% down payment? Also if i were to do a 203K loan does that mean that the loan includes the mortgage plus the repair cost minus the down payment? Does anyone know if there is a requirement for down payment on a 203K loan?

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