Found a bank owned house we love but can’t get the FHA loan without making the repairs. (needs new hot water and furnace) Can’t make the repairs with out the loan. I’ve done some research and the FHA 203 seems like it would be perfect for this house, but I’m having a hard time finding lenders that do them in WI?? I didn’t think it would be that difficult.. the bank is getting rid of the house on there books, buyer is getting a good deal, and construction workers are getting work.. I don’t get it.
Asked by:AIDAN’S MOM
Loading ...
Most lenders just don’t want to deal with the extra paper work because they are too busy working on “easier” files.
I know of a couple of wholesale lenders ( they only work with mortgage brokers) that are still doing FHA 203k loans.