Wednesday, January 13, 2010
FHA 203K Curious? -- Redfin comes in handy!
FHA offers a program for buyers of fixers where the cost of the improvements can be wrapped into the loan. It's called the FHA 203k program. As you might imagine, these loans are not eazy to get but they are a great way for buyers without a lot of cash to afford to purchase fixers. To date, I don't know anyone who has applied for one of these nor any Realtors who have closed a transaction with one of these. At any rate, Redfin.com has lots of details about these loan transactions in their L.A. forum thread. As soon as I get permission, I'll post the details.