All Forum Posts by: Venise Brooks

@Tim G. I actually contacted wells fargo and the lender seemed very helpful. I will PM you to discuss your experience during this process. I am sure you can give me a heads up with what to look forward to as I heard this process is a long one.  

@ryangoldfarb I will note this program as I am not against turnkey properties. It may come in handy. Thank you! 

@Brent Coombs thanks for the info.

@Derek Carroll Yes there it is. Thank you for the recommendation, I will contact their mortgage department to see if they can assist. 

Hi BP Community, 

I am currently beginning the process to invest in my 1st Property in Newark, New jersey . I plan to house hack to get started. I think I will take advantage of being a 1st time home buyer and will go the FHA Route. I am hoping to find a diamond in the rough that needs some repairs, hopefully resulting in some built in equity. Therefore, I will need a 203K loan to finance the construction.

I am having a difficult time finding Mortgage lenders/ banks that offer 203K. Can anyone refer a lender/bank they have used?

Also, through my research I am learning that many banks/ lenders offer low Money down options very similar to FHA and PMI terminates after 20% equity is gained; which is awesome. If anyone is aware of a mortgage lenders/bank that offers a low money down program and 203K, please pass along a recommendation.

:) thanks!