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Updated almost 6 years ago on . Most recent reply

User Stats

18
Posts
5
Votes
Pedro Echevarria
  • Realtor
  • Connecticut
5
Votes |
18
Posts

FHA 203 K Question ?

Pedro Echevarria
  • Realtor
  • Connecticut
Posted

If I do FHA 203 (K) under $30,000 repair cost. Can I live in the property while doing these cosmetic repairs ? If I CAN'T, do I still pay mortgage and other expenses for the time they are rehabbing the house? & what are those cost typically?

Most Popular Reply

User Stats

2,377
Posts
747
Votes
Harjeet Bhatti
  • Lender
  • Glenview IL- CDLP NMLS#230554
747
Votes |
2,377
Posts
Harjeet Bhatti
  • Lender
  • Glenview IL- CDLP NMLS#230554
Replied

@Pedro Echevarria Yes you have to move in the property within 30 days after the closing. Full PITI payment begins at close. Lender will interest on rehab escrow.

  • Harjeet Bhatti
  • Loading replies...