Investor · San Antonio, TX · Member since 2014 · 78 posts · 12 votes
Looking to purchase a personal residence in San Antonio in the next few months and it may need some work.
Does anyone have any recommendations for 203k or Homestyle lenders for the San Antonio area?
I am leaning towards homestyle because there is a good chance I will need more than 35k in repairs, and from what I am reading the non-streamlined 203k is a hassle.
Anyone in the area have any experience doing these kinds of loans?
Baltimore, MD · Member since 2015 · 301 posts · 82 votes
11y
I wouldn't rule out the 203k loan. If you find a seasoned lender who specializes in 203k loans, it will make the process a lot smoother. They will have connections with approved contractors which can be very helpful. I would reach out to some local lenders before limiting yourself.
Im currently starting the 203k process and from what i read, it can be a very rewarding experience if you are dealing with the right people.
Investor · San Antonio, TX · Member since 2014 · 78 posts · 12 votes
8y
Unfortunately, @Mayes White I never ended up getting the house I wanted to use the 203k loan - they rejected my offer. I bought a different house with a traditional loan...sorry I can't be of more help!