What is a FHA 203k Loan?

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Simply put, it’s a renovation loan. A typical scenario would be for somebody who wants to sell their home but it needs massive amounts of repairs before you sell it. Most realtors won’t bother selling a home that needs a lot of work. You’ll need a consultant to approve the repairs, and you’ll also need a contractor, as you can’t get this loan to do the repairs on your own. It does make home ownership a little more complicated than usual but it’s a product some people may need. Check out todays video for some examples that I’ve personally worked on in todays Mortgage Mysteries video.

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Scott Groves, a 20 year veteran of the mortgage industry, and active Loan Officer who has funded over $1Billion of mortgages in his career... answers all your mortgage questions on this channel.

Whether you're a first time home-buyer, looking to refinance, or looking to sell your home & get a mortgage for your dream home, this channel can help clear up some questions. Didn't find what you are looking for on this channel? Just email Scott Groves with ANY mortgage question for a home loan ANYWHERE in the country. We will respond to your inquiry within 24 hours & will make a video for this channel answering your question. [email protected]

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Scott Groves - Loan Officer with Movement Mortgage as of the time of publication of this video. NMLS #365178 - lo.movement.com/scott-groves/home

CA-DOC365178, NV , FL-LO86563, TX | Movement Mortgage, LLC supports Equal Housing Opportunity. NMLS ID# 39179 (For licensing information, go to: nmlsconsumeraccess.org) | 877-314-1499. Movement Mortgage, LLC is licensed by CA Department of Business Oversight under the California Residential Mortgage Lending Act # 4131054, FL # MLD1360, TX,NV # 3401. Interest rates and products are subject to change without notice and may or may not be available at the time of loan commitment or lock-in. Borrowers must qualify at closing for all benefits. "Movement Mortgage" is a registered trademark of the Movement Mortgage, LLC, a Delaware limited liability company. 8024 Calvin Hall Rd, Indian Land, SC 29707.

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