203k Loan on a house hack
Hey Everyone, Looking to do my first house hack and was thinking about doing a 203k loan. Looking for suggestions on what to look for in a house? Am I looking for a complete gut or something that is outdated? Would appreciate any suggestions!
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Katherine Blazer
- Lender
- Tampa/St. Petersburg/Sarasota FL and Knoxville/Sevierville/Maryville, TN
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The first step is to get pre-approved. So find lend that can do FHA loans, then you will want to find a contract that has done a 203k renovations. There are a lot of extra steps to these loans. You cannot just do the work yourself, the contractor has to be approved.