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Updated over 8 years ago on . Most recent reply

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Walmsley Gedeon
  • Brooklyn, NY
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I need to get qualified for FHA 203k in Hartford CT

Walmsley Gedeon
  • Brooklyn, NY
Posted
Does anyone have leads on lenders for FHA in the Hartford Connecticut area? I also need leads on contractors and a good real estate agent. I'm looking to find a 4-plex or more units under $150k. Please give @ me with the info pls. Thanks all!

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Michael Noto
  • Real Estate Agent
  • Southington, CT
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Michael Noto
  • Real Estate Agent
  • Southington, CT
Replied

@Walmsley Gedeon Are you looking to owner occupy a property here in Hartford County in CT? 203k is only for owner occupants which is why I ask. 

One piece of advice I would pass along regarding 203k is make sure you work with an agent, lender, lawyer, home inspector/FHA consultant that have actually closed 203k deals. The process is very different than most loans and you want people who know what to expect during different parts of the transaction.

For instance, you need to find a general contractor who does not require a deposit upfront. That eliminates 90% of the contractors around here, but someone who has done a 203k loan will know how they will be paid and will be ok with their payment schedule. 

These things make a big difference. 

  • Michael Noto

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