403k Loans?

[Kandrews]

Does anyone know what they are and how it works. A Account Executive once mention something to me, but is was brief and he recenlty left the business.

[promortplanner]

I believe what you're driving at is the FHA 203K - not 403K. For 203K you'll need to follow FHA loan guidelines which usually includes some monies for rehab work on the home. A licensed appraiser is needed to do the special 203K appraisal which will look at the purchase price, rehab budget, and estimated market value after repairs are done to the home. Email me if this is something you're seriously considering. I can get you more details if you have an actual scenario.

[Kandrews]

Where can i go to get more information. As a Realtor i was told it was a good marketing piece to potential buyers. How does it work?

[promortplanner]

There are numerous places to get more information on these scenarios. I'm not sure how good of a marketing piece this would be to buyers enless they were some type of investor client who knew what they were getting in to.