Buying a fixer HUD home...
I am under contract with my dream fixer upper but my lender is advising me that HUD is difficult and I may be throwing my money away. He has a rehab loan product but is afraid that HUD will not cooperate last minute. Please help, I need advice! by kellyjean35463253 from Allendale, Michigan. Apr 18th 2017
William J Acres (William_Acres)
#74 ranked lender in Arizona - 8,728 contributions
The FHA 203K rehabilitation loan is a difficult loan, but it's not for those who know how to do them.. If your lender is not experienced with the 203K, then you are in for a long, troublesome close.. If it even closes at all.. The HomeStyle renovation loan is a better loan product, but it also has intricacies similar to FHA's 203K.. but it does have less restrictions.. But even this loan requires someone who is experienced in them.. As far as HUD not incorporating with them??? That is absolutely not the case.. But that might be their excuse to try to get you to look at a different home. . I'm a preferred Lender with Arizona and California being my primary markets. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com NMLS# 226347 / RPM Mortgage NMLS 1541014 / AZMB0121893
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