Comments on: Fix Up Bank Owned and Foreclosed Properties with an FHA Streamlined 203K Loan

By: Kevin Sandridge

Kevin Sandridge — Wed, 30 Mar 2011 13:44:32 +0000

I agree. We’ve done quite a few of these and find they’re excellent for folks who are willing to put a little work into a less than perfect-condition REO or foreclosure property.

By: Mel@Anaheim Wiring

Mel@Anaheim Wiring — Wed, 30 Mar 2011 01:53:05 +0000

This is an amazing program especially for those newly married couple having low income. This is very promising and it is really a good help because you only have to take advantage of one loan.

By: Roch@Ottawa Foreclosures

Roch@Ottawa Foreclosures — Wed, 07 Jul 2010 00:40:56 +0000

I feel first time home buyers will shy away from bank repos and foreclosures as they are more careful with their purchase. They don’t want to gamble by buying something with which they will have problems or something that requires too many renos.

By: Paul Welden

Paul Welden — Sat, 01 May 2010 04:05:00 +0000

There’s now a central database of 203k Contractors. http://www.203kContractors.com TM.

By: Glenn Joseph

Glenn Joseph — Tue, 20 Apr 2010 20:11:23 +0000

Do you know if there is a way for contractors to get registered and set-up ahead of time with the HUD so they can market themselves to potential buyers who are looking to utilize the 203K loan and will need a contractor? Thank you

By: donnie@carpet in dalton

donnie@carpet in dalton — Thu, 04 Feb 2010 02:47:32 +0000

A great way to save money on those repairs that won’t be rolled into the loan is to get your materials wholesale. Ordering from an online dealer can save you tons on everything from carpet to electronics.

By: Lisa@ Roof Ventilation

Lisa@ Roof Ventilation — Mon, 02 Nov 2009 21:51:47 +0000

Wow, great for sharing. This is a great idea for families just starting out.

By: AnellaSmith@Commercial carpet tiles

AnellaSmith@Commercial carpet tiles — Wed, 21 Oct 2009 14:49:40 +0000

Wow, very interesting. This is a great program for newly married couples with low or even no disposable income. I know I will take advantage of a program like this to avoid having to fill out tons of paperwork to add on yet another loan when that household emergency pops up.

By: Kevin Sandridge

Kevin Sandridge — Sun, 13 Sep 2009 05:29:52 +0000

Hey Gene – It’s my understanding that you can use the Streamline 203K loan and do the work yourself, as long as you are licensed to do that work. Not sure being a contractor will cover everything. The lender may require you to be an actual licensed electrician – say, to do electrical work.

By: Gene Stimson

Gene Stimson — Sun, 13 Sep 2009 02:30:39 +0000

Hi , I am a licensed genereal contractor in Minnesota , I am moveing into the are between Orlando and Clear Water could I get this Loan and pay myslf on my labor or do I have to pay someone else