Mike's 203k Blog

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Home Inspector - 203kOnLine.com, covering California & most other states - S0289
203k loans, the hottest renovation loan product on the market. Offering quick closings on homes that require repairs.
Right from the "new" guidelineThe Mortgagee (lender)  must obtain a written agreement between the Consultant and the Borrower that fully explains the services to be performed and the fees to be charged for each service. The written agreement must disclose to the Borrower that any  inspection perf...
What does a consultant do for their fee?Some lender clients must think it is a matter of a site inspection, end of story, you can do that in a day, right? I'm sorry but that isn't what we do as 203k consultants. Our job description is to make a site visit, looking for health and safety issues, an...
v16 of our award winning software for consultants is now availableUnderwriters voted us the easiest to underwrite by 98:2.The v16 has over 175 improvements over our v10. I talked with someone in MA this morning who is still using our v4, there must be 350-400 improvements over that version. He wi...
Is the FHA 203k my best choice for a renovation loan?Not necessarily. What you should consider is what kind of down payment you may have. If you are looking for a low down payment then the FHA 203k loan may be your best option. They do penalize you however by making you pay an insurance premium e...
203k Consultant Seattle WAWhen do you need a 203k consultant? Every time you have a 203k loan.  Why would you want a consultant on a Limited 203k? They represent 98% of the problem 203ks, would be a good indication that something isn't working without a consultant. What does a 203k consultant do?...
Miami FL is ripe for the FHA 203k loan programYes, it is. Miami and the Greater Miami area is a really hot bed for the FHA 203k and the HomeStyle renovation. I have always believed that every home you might purchase that isn't brand new is a potential renovation loan.1) Realtor sells a house that...
Miami FHA 203k consultant on the move.Jimmy Fitzgerald is the son of Tommy Fitzgerald in Ocala and is off and running with his 203k business. Jimmy has been a contractor for a number of years and as you know that makes the best consultants as they are already well equipped to complete competent b...
Can I build a garage with the 203k program?Maybe - Yes, you can if there is no other garage on the site. If you do have a garage on site, then the new garage may be considered a luxury item and thus not be allowed. If you have a home that just needs a garage to be complete, build one with the FHA...
The hustling bustling town of Portola located in Plumas County CA, can certainly use the advantages of the FHA 203k loan guarantee program. Why do I say "loan guarantee program"? Simple because that is what FHA is. They guarantee the lender that they will buy the loan back up to 96.5% of it anywa...
Opened another office in Graeagle CA to service Sierra and more of Plumas Counties, as well as parts of Nevada County that are closer to Graeagle than formerly possible. Why do you need to know about this? Easy, places like Loyalton, Almanor, Beckworth, Verdi, Portola, and even Truckee (Nevada Co...

Mike Young

FHA 203k Consultant 707-812-7668
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