Currently sitting at a 750+ credit score and a few thousand dollars saved. looking for mortgage lenders and real estate professionals knowledgeable in the 203k area of home buying also local down payment assistance programs.
Hey @Shondell Alford
Your agent and loan officer should be able to help you with DPA programs. These vary in availability from county to county so it will depend on the specific property you are interested in.
I'd be happy to recommend our loan broker who has access to 203k lenders. That being said, don't bet on getting any offers accepted in this market with that hefty 203k days to close (around 60 days). If it's something off-market or extremely distressed you might be able to make it work but if it just came on the market, don't waste your time offering with a 203k loan.
Please, feel free to reach out anytime if you have other questions or just want to chat!
@Brenden Mitchum is correct that in a strong seller's market, the 203k is not viewed as one of the most desirable loan options, despite the amazing benefits it provides to Realtors, Sellers, Buyers, Lenders, Contractors, real estate values, and the local community.
Now, a 203k + DPA will be much more difficult (maybe impossible) to do in this current market.
Don't be afraid to use the 203k but your home buying process could be more difficult if you have only 1 loan option to purchase a property.
@Brenden Mitchum I would love to be in contact with the loan broker. thanks.