203K loan worth it?
We have 110k mortgage pre-qualified. Not too much, but .. This is our first home. We found home we fell in love. The location is great, has the potential to be a beautiful home. But the reality seems shit (excuse my language) But we still want that house. Room like this is worth 145k in this area, and it sold for 74k right now! Earth itself, that house is worth 50K, but we have to worry about 203K loan, and remodeling. Is it useful to do all this for the first time home buyers? I think if we get a loan to renovate the house and we have equity now. Then I just made no sense, or is this a good idea? Our friend is a professional appraiser, so he knows whereof he speaks, that houses worth more than 74K, even more than 100K. I’m just afraid that this kind of investment, and prices are not the first time home recommendations ostjad.Kõik 203 (k) loan is a detox at home:) sorry for segadust.Tahame 203 ( k) loan to remodel the house, I guess it would be about $ 20,000. Both the price of the house is still below the estimated market price (about $ 95,000), 203 (k) money is not the name of the loan.