| I have heard about people buying and renovating their homes through the Federal Housing Authority's 203K program. How does this work? |
| FHA 203K loans can be a really great way for a potential homeowner to roll the costs of buying and renovating a home into a single loan. The program is available for owner-occupants only (NOT investors) and like most government programs, the requirements are very complex. My Resource section contains a link to the basic requirements under the Mortgage Lender section. Consult with a lender who has experience making these loans before proceeding. |
| What should I look for in a mortgage lender? |
| Like your real estate agent, a lender should instill confidence and provide high quality customer service. Since each person's financial circumstances are unique, simply looking at interest rates and closing fees is not enough. The lender must be knowledgable about different loan programs and have the ability to properly explain the benefit of each one to you. |
