Finally we have located a lender who is willing to finance non profit organizations using the 203k. This used to be a big item for our business as consultants and sellers. We used to canvas small churches in a neighborhood that had tired homes around it that needed fixing. Once you showed a small church how to use the non profit standing to fix those properties up and the by-product was an "affordable home" that they could sell to one of their members. Quite often the payment was lower than rent in the area. Non profits are restricted on the amount of profit they are allowed but they are "non profit" and it works well. You train them once and they can buy multiple properties.
If you have a non profit and want to know more, please contact us directly for a private consultation. My lender will loan in all fifty states. Just learned from him Friday that he has his approval to move forward.
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