203k Rehab Loan Lenders

[Collin Holdread]

Hello BP, 

Has anyone done a 203k loan with Guild Mortgage? We are looking to take down our second property here in Denver, a duplex in Arvada, and it is going to need major repairs. Not looking to do a conventional rehab loan as we only want to put 5% down. 

Any guidance on the 203k process and lenders would be appreciated. 

Thanks in advance. 
Collin

[Paul Welden]

@Collin Holdread

According to HUD/FHA monthly & annual reports, Guild Mortgage only did 1 FHA 203k loan for the entire FY2022 in Denver and since Oct 1, 2022, they've only done 1 as well.

But please keep in mind that in Denver, there were only 14 FHA 203k loans endorsed FY 2022. And, the most that any lender in the Denver area has done was 2.

As a company, Guild Mortgage did a total of 69 FHA 203k for the entire US for FY2022.

The leader of the pack was Loandepot.com who completed 534 FHA 203k loans for FY2022.

I'm not endorsing or talking bad about any lenders, just merely discussing the data. 

Hope this helps!