Searching for FHA 203(k) Lender

[Andy Levin]

Hey everyone,

I am looking to find a lender who provides FHA 203(k) loan options. When searing on the HUD website, it appears there are not any in the Dallas area. Can this be true?

[Bruce Lynn]

I can give you a couple of experienced ones if you PM me.  They are not for investors only for owner/occupants at this time.  Investors are typically looking at hard money or line of credit for rehabs.   My suggestion is there are plenty of loan officers that tell you they can do them, and maybe technically they can, but they are tricky.  You want someone with knowledge of them and who has a team.  Typically they won't "recommend" vendors to do the work, but they have contracts on their approved list to contact who are familiar with the program and who have successfully completed the requirements.   Bids typically need to be detailed and contractors get draws when work is done.   Contractors have to be somewhat reputable, not do it yourself or home depot corner labor.