Current Streamline 203(k) Rates (loan, fixed rates, approved, fees)

[roc dan]

Does anyone know where to find/have information on current 30-year fixed rates for 203(k) FHA loans?

I'm new to this forum, but I found a great beat-up house no one else wants in the perfect location, size, and price for me. It's about 30k below the value of similar houses in the neighborhood, so it has room to improve. I don't have the cash to do the fix up, so I'm looking at 203(k) to finance the cost.

Also, if anyone has experience going through and using this kind of loan, I'm interested in hearing how it worked out for you.

[altus2006]

Originally Posted by roc dan

Does anyone know where to find/have information on current 30-year fixed rates for 203(k) FHA loans?

I'm new to this forum, but I found a great beat-up house no one else wants in the perfect location, size, and price for me. It's about 30k below the value of similar houses in the neighborhood, so it has room to improve. I don't have the cash to do the fix up, so I'm looking at 203(k) to finance the cost.

Also, if anyone has experience going through and using this kind of loan, I'm interested in hearing how it worked out for you.

Look up the FHA website and find the list of approved FHA 203k lenders in your area. This loan is different from many aspects than a regular loan and someone who does a lot would be your best bet for accurate information.

It is the only way I found to get the $$$ help for fixing up a property, but there are a lot more costs involved because of having to pay an FHA consultant and other upfront fees, which can be rolled into the loan.

altus2006

[Mr.Finance]

Scott Tallman at imortgage 602-492-2247 does several 203k loans a month. The process has been streamlined allowing for a 30 day close and two week move in, completed with a 3 year guaranty from the contractor.