If you think you are truly interested in creating value by buying and improving property using the 203K loan, we recommend that you take these two steps:

1. Meet with Catherine Teegarden Teegarden to get pre-approved. We can tell you right away how large a loan you can qualify for and what your approximate closing costs will be. If we find you can't qualify now, we will give you specific recommendations for steps to take to help you get qualified in the shortest period possible.

2. Once you are pre-approved for a loan, find a real estate agent that can help you find the kind of property you are seeking. Some agents specialize in selling distressed or "fixer" real estate. These can be properties that have been foreclosed upon by lenders, properties being sold to settle estates, mismanaged properties or buildings which have been damaged by tenants, fire or natural disasters.