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Do I need a C of O to close a FHA loan with 203K loan?

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Dapsyn Guest	Posted: Mon Nov 30, 2009 7:54 pm    Post subject: Do I need a C of O to close a FHA loan with 203K loan? Like 0 Dislike 0 Am trying to buy a 3 family house in Queens, NY. The house is a brand new construction that is about 50% completed before been forclosed. After working with a bank for about 4 months and satisfying all the conditions, I was told they can not close the loan because of the C of O after giving me a commitment. _________________ Need help choosing the right loan? Get free consultation from community lenders/consultant
gmakerley Community Mentor Joined: 09 Nov 2007 Posts: 12376 Location: bloomfield, ct 58.49 Dollars($)	Posted: Mon Nov 30, 2009 11:56 pm    Post subject: Like 0 Dislike 0 the reason looks skimpy as you stated it. nonetheless, if there was a CO on a partially completed home, then you'd know something was wrong there. the 203K is intended to allow you to complete the home, at which time you'd get a CO. i think this lender isn't confident in its lending practices. _________________ George M. Akerley Mortgage Underwriter/Consultant Word of Excellence- Writing/Editing/Proofreading 860-221-5044

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