The 203k is thew loan whose time has certainly come. With all of the short ssales and REO's the "k" prsents the perfect vehicle to purchase an REO from a bank. Many times ( even most times) by the time a bank repossess a property it is in a state for general disrepair- furnace gone, windows broken, holes in the walls. There is no way to get regular financing on those peoperties until they qare fixed (capable of getting a C/O). In comes the k. The K gives the money to buy and the money to rehab , all in one loan, one closing and ( best of all0 it is an FHA mortgage with FHA guidelines. I would be happy to tel you more. Call me or email me.