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.
Everyone likes to close fast... or do they?I have a client that just called me for an inspection. They informed me that their inspection contingency is over tomorrow. Their contractor bid should be ready today or tomorrow.If I'm hearing this correctly they have had this in process for a couple th...
I hope you all have great things planned this weekend and Monday. Tomorrow, Saturday we will have fireworks over the lake in Graeagle, CA, Sunday is a parade to celebrate the 4th of July, and everyone relaxes at home on the 4th with their families. Happy 4th of JulyGraeagle is located about 45 mi...
Construction & Demolition waste management FEE Concord, CAThe Building Department of Concord, CA requires a refundable C&D waste management deposit of $2,400. on a project we are doing there which requires 50% of construction or demolition materials have to be kept out of the landfill. Isn't that...
What is the difference to they layman?About 20 out of 100 RE agents and brokers actually know about the FHA 203k loan and what they actually know you could fill a thimble in most cases. There are a handful that actually take advantage of the program and NO ONE takes advantage of the entire progra...
203k consultants are not the same. Like any other business you have those who meet the minimum standard and in this business unlike more many don't even meet the minimum standard.Your 203k consultant should be providing his own independent bid for your project. Many don't, instead they will wait ...
Renovation loans and San Jose, CA just seem to go together wellOur business in the San Jose, CA area has exploded. San Jose is experiencing gentrification in a big way apparently. The FHA 203k and the FNMA's version called HomeStyle® Renovation Mortgage as well as new construction are happening i...
Renovation loans are great but not all contractors are doing their jobDid you ever have a contractor on a 203k project that really impressed you? Everything about them was great. Well funded, great demeanor, just all around a great company to have on your projects. Then something changes, one aft...
The guideline allows a consultant to charge what is common and typical for that service area.There seems to be some confusion on this issue as when the "new guideline" and that is all it is, a guideline, came out it hadn't fully addressed our draw inspection fees. There are several other issues t...
I find it arrogant when a lender requests demands an invoice for each draw inspection. We point out the guideline to them only to have them say something like "if you want to get paid, you will fill out an invoice". It is an extra step, they add to the process. If they actually read that guidelin...
Freddie Mac and Fannie Mae, we were fooled again.The bailout was just a bunch of crap. It was never intended to go back to the shareholders, It was and is just another power grab for government control.  Read the entire article Can you believe this... of course you can, with the current administr...

Mike Young

FHA 203k Consultant 707-812-7668
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