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How do I make the payments on my FHA 203k loan while paying rent?

Home Inspector with 203kOnLine.com, covering the USA S0289

How do I make the payments on my FHA 203k loan while paying rent?

It would be very difficult for most people to make two mortgage payments or a mortgage payment and a rent payment. Typically one of these payments is enough for most buyers.

Many times the construction though the cost is included in the loan amount with the 203k loan program will be handled it doesn't openly contain the rent or mortgage on the other home you need to live in during the course of construction. 

What do we do about  it? Simple... if your consultant says the home cannot be occupied for ninety days you can include two payments in your mortgage to help with that situation. If your project will last six months you can include up to six mortgage payments as part of your construction costs to ease the situation. 

You might ask who can put this all together for us? If you need a 203k lender who can actually close these loans you should give David Levy with WFHM . It is so important to use a "team" and having David on your team will be a distinct advantage. You are a part of the team as our client, and in PA it is going to be Rob Lunny of The Mike Young Team.

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Mike Young, 203k Team Leader    Mike ready for your 203k order

To learn more about the FHA 203k loan program go to www.203kOnLine.comWhat is your fee? 

Got a 203k project giving you "fits" contact www.203k911.com. If you are looking for quality 203k software for consultants to speed up the underwriting process..

877-207-6565  state your name when asked please, it is dialing me at the same time.

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