|
| |
203K - HUD Consultants - How and How Much are they Paid???? - 08/24/10 10:30 AM
203k Consultants... How are they paid?
BIG QUESTION!
Here is the long and short of it. Back in September of 1995, HUD came out with Mortgagee Letter 95-40 which outlined the charges an inspector could charge. They were known then as a "Fee Inspector", now more commonly called a HUD Consultant. The mortgagee letter MANDATED a bracket system for these fees as noted below:
" A fee of $400 is acceptable for a property with repairs less than $7,500; $500 for repairs between $7,501 and $15,000; $600 for repairs between $15,001 and $30,000; and $700 for repairs between $30,001 … (1 comments)
|
203K Guarantee.... If we don't close your 203K in 45 days... WE WILL DO IT FOR FREE! - 08/14/10 07:35 AM
So what is the biggest drawback with the FHA 203K ???
They are not widely known and because of this, lenders will stumble their way through them...
What happens then? They drag on for 90 or 120 days, if they settle at all...
I have closed over 3,500 203K's and have an amazing team. We orginate in almost EVERY STATE in the Union!
Here is my guarantee:
IF WE DON"T CLOSE YOUR 203K WITHIN 45 DAYS.... WE'LL DO IT FOR FREE!
Thats right, for free. We will still work … (2 comments)
|
Calculating the cash out of pocket to buy a home with the FHA 203K... Care to know? - 08/10/10 05:39 AM
How much money do I need to buy a house with the FHA 203K ??? Ahhh, the age old question.
Well, FHA 203K has its advantages.
1. It allows you to buy a house that is in "As-Is" condition and escrows money to make repairs to the house to bring it back into minimum property standards.
2. Only 3.5% down payment is required.
GREAT!
"But still, seriously... How much do I need?"
Here it is in short:
That 3.5% is ONLY downpayment. More often than not, people get "Downpayment" confused with TOTAL CASH REQUIRED. You will … (1 comments)
|
203K - The 203k INQUISITION!! Ask thy lender questions! - 08/03/10 06:51 PM
So 203K's are all the buzz!!! Great! We knew this was going to happen. Dinged and dented inventory is UP... Interest Rates and qualification requirements are DOWN!
But why is it that only a fraction of these loans actually make it to the settlement table?
Well the answer is simple... You were working with the wrong professional.
Lets be clear, in today's information world, it doesn't take much to put up a website and claim that you are a this or a that. It is not hard to promote oneself as being an "industry leader" in something. I mean the … (0 comments)
|
|
|
|
203K World - Maryland - Baltimore - RENO Maryland / DC's #1 Reno Lender /AS-IS-EZ
Ellicott City,
MD
More about me…
Brent Kluge - FHA 203K - HomeStyle- JUMBO Reno Loan
Address: 412 H Street, NE, Washington, DC, 20002
Office Phone: (410) 591-8300
Email Me
Brent Kluge's 203K & HomePath Renovation Blog
Expert information for you for all your renovation needs focused on FHA 203k and FannieMae HomePath Renovation, HomeStyle and USDA reno.
From planning, to process, to loans, to finding a match with a contractor, Brent Kluge and his team will guide you through the entire process and avoiding the pitfalls along the way.
 Links
Archives
|
|
Connect. Share. Learn.Welcome to ActiveRain, the #1 social community for real estate professionals.
;)
;)
