What if I want to do the repairs on the home that I want to purchase with a 203K loan?:

It can be done, but FHA financing is the most expensive loan product you can obtain.. you might want to consider other types of loan options... I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com

You would need to hire a licensed contractor to do the repairs on the home. If you would like more information on how a 203k loan works, please call me at 909-556-5055. I have closed many 203k loans in 30 days and the work is completed after the house is recorded in your name. With our technology and online tools, getting a home is quick and easy.

Most lenders will require a licensed contractor to do your repairs even though FHA guides do allow for self-repairs. Lenders want to be assured that repairs will be completed in a timely and proper fashion.