fha 203K or homestyle reno loan

[Maleshia Gilcrease]

Good afternoon,

I am considering doing a house hack using the FHA 203K or Fannie Mae Homestyle loan. I would like to either create an adu or house hack a multifamily that may need some work. Does anyone have any referrals for a lender that will finance this loan in the DFw metroplex. I would greatly appreciate any referrals for consultants and contractors as well. Your feedback would be greatly appreciated.

[Jonathan Klemm]

Hey @Maleshia Gilcrease - I absolutely love both the FHA 203k & Homestyle loan programs and think they are the best way to get started in real estate investing.

By far, the most important part of executing a renovation loan is making sure you have the right team. Your team will consist of your real estate agent, lender, HUD Consultant, and general contractor - PLEASE MAKE SURE EACH MEMBER HAS DONE THIS TYPE OF LOAN IN THE PAST.

I wish you were in Chicago...we'd love to help you on the renovation side, but have not expanded the general contracting business to Dallas yet.  Our rockstar renovation lender does do deals in that area so I can share his information if you are interested.