The maximum loan amount is 85% of the total purchase and rehab cost. Rehab amount is escrowed by lender and disbursed as rehab work is completed. Interest only for first six months.
HUD inspections are required, both before the work is done and after the work is done.
Posted by Indienne on October 14, 2005 at 20:36:31:
Hi fellow investors,
Can someone please advise me as to the best lender that I can find to get a 203k loan, how long does the process takes and what are the qualifications.