314-518-9711
financewithlance@gmail.com
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Lance Obermeyer

NMLS ID 237659

314-518-9711 financewithlance@gmail.com

FHA 203K Loans

The 203(k) Advantage allows you to:

  • Finance the Purchase AND the Rehab in one loan.
  • Complete the Repairs/improvements after you close.
  • Borrow based on what the home will be worth after the improvements are made.

Details of our FHA 203(k) Rehab loans:

  • 550 or better Fico
  • Purchase & Rate & Term Refinance Loans
  • Primary Residences
  • 30 & 15 Year Fixed Rate and 5/1 ARM Available
  • Conforming & High Balance Loan Amounts

Standard 203(k)

  • No Maximum Repair Amount
  • 1-4 Units Allowed
  • Structural/Non-Structural Repairs Allowed
  • Work Must be Completed within 6 Months of Closing

Limited 203(k)

  • $35k Maximum Repair Amount
  • 1-4 Units Allowed
  • HUD Consultant Not Required
  • Work Must be Completed within 6 Months of Closing