San Diego Housing Bubble News and Analysis

The 203k allows buyers to bid on less disirable homes where there is much less competition and rehabilitate or remodel the home to make theirs.

One loan does it all.

FHA 203K Loan - How the Program Can Be Used:

This program can be used to accomplish rehabilitation and/or improvement of an existing one-to-four unit dwelling in one of three ways:

· To purchase a dwelling and the land on which the dwelling is located and rehabilitate it.

· To purchase a dwelling on another site, move it onto a new foundation on the mortgaged property and rehabilitate it.

· To refinance existing indebtedness and rehabilitate a dwelling;

Learn more about 203k Loans
Both of these presentations were designed as training tools for loan officers and realtors so they may contain more detail than many consumers want... but you can never know to much.
http://www.themtgmentor.com/203k-Classes...