Hello guys. I know a 203k is used for your primary resident. But is there a way around that? Like, having my niece live there for a while? I already have a mortgage in solely in my name. But my wife will be a first time homeowner, can she apply for a 203k, keep all bills in her name, just have her niece pay for us back or whatever. Thanks
Rental Property Investor · Greenwich, CT · Member since 2015 · 4k+ posts · 2k+ votes
6y
If you're wife gets the FHA 203k loan (not a cake walk in it's own right) and does not actually live in the property, she would be committing mortgage fraud. Not good, @Rodney Daniels, not good.