This is just a brief message to remind you of the benefits of the 203(k) loan that’s available through FHA. Sorry real estate investors, it’s not for you. But if you are someone who is in the market to purchase a home but the home is going to need a lot of repairs and you are strapped for cash you may seriously want to consider a 203(k) loan.
Over the past year I’ve helped several people purchase homes using this program. There are some pretty heaving fees for using the 203(k) loan and a lot of hoops to jump through. But if you find a home for sale in the Kansas City area that would allow you to pay the fees, jump through the hoops and still be sitting on a very nice, large nest egg of equity when you were through would it be worth checking out?