I have been working on getting my CFA (Certifified Foreclosure Agent) designation from The Agent University and Foreclosure.com.
Today, I finally took my third course which was FHA203K Loan and Renovation Program Course 203.
It is an appoximately 2 1/2 hour webinar or online class, with a 20 question test at the end. That was my third module or class that I've taken for my desingation and I still have 4 more remaining. Each module or class is apprx 2 1/2 hours long.
I am happy to say that I passed with flying colors 20 out of 20 correct answers (I must have been paying attention). However, I will also say that a 203K loan is a very complicated loan for a home buyer looking to live in the property being purchased and have the home rehabbed (prior to occupancy in most cases) however an existing homeowner can use a 203K loan to rehab their own home, if there are items that need serious updating or rehabbing.
In order to qualify for one of these loans, you should talk to a qualified 203k loan officer that has experience with these types of loans.
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