Real estate markets are always changing and so are the  way homes are financed.  The FHA 203k program has been around for years but in our local market Oceanside, Vista, San Marcos, Encinitas and Carlsbad it hasn’t been used in years because the maximum loan limit was too low for local prices.  Now with a new higher loan limit of $6975oo and lower prices the 203k rehab loan has real potential for financing  fixers which the owner intends  to occupy and the down payment is just 3.5%.

Coleen Craig, a mortgage professional from Santa Clarita and blogger for Activerain  gives us the low down in her article  with easy to follow steps.  If you need help with the practical application give me a call.
http://activerain.com/blogsview/1151845/203k-made-simple-yes-for-your-clients