What is FHA 203K Financing?

This loan program allows you to in addition borrow funds to purchase the property, but also borrow funds to repair the property in a single loan.

In my humble opinion the greatest opportunity for todays buyers is in purchasing and renovating a home that is in need of repair. Many sellers got in over there heads and as a result much of the inventory of homes for sale are in need of repairs and the sellers are either not able to afford to make the needed repairs or are unwilling to make the needed repairs.

Most of the 203K loan I have closed in the last 2 1/2 years have generated more than $15,000 in equity as a result of the buyer making repairs to the property after closing.