Well, so goes the saying... "I'm a broker and I can 'shop' your loan for the best rates and really get you the best deal".    Okay....  The other side of the coin says, "I'm a lender and brokers just take my money and add their fees to it, so you'll never get the best rate doing business with a broker."

Bollocks!

203K loans are a logistical nightmare and Freddy is waiting for you to fall asleep, if your working with someone that can't properly help you.  The long and short of it is this:  Brokers and Lenders alike can, and do, close 203K loans.  What you lose with going with a broker by and large, is the ease of communication with the Underwriting department and as a result, Time.  Time is a HUGE issue with settlements; Pending closing dates, the domino effect of other sellers/buyers and their respective contracts, Lock Expiration dates.  Time is money and Freddy is costing you big time! 

A direct lender typically has a bit more control over this as there would be a shorter gap of communication between the Underwriter and the Loan Officer (the term I don't like).  When there are stipulations from Underwriting ( and there WILL BE), you can get them back to the U/W without another 72 hours to clear them, etc... 

Long and short of it...  Go with someone that knows the 203K, that can lead you through the ENTIRE LENDING PROCESS... AND, someone that has the ability to close the loan quickly, with great response time.

Lenders 1 / Freddy Bupkis

Kluge out.