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.
RECENT BLOG POSTS
I hear this all the time that the bids don't match on an FHA 203k loan.Some lenders make us match penny for penny on a line item, others want the labor and materials to line up exactly penny for penny. Hello? Anyone there? NO, they don't have to line up penny for penny. That is NOT in the Guideli...
12/01/2016
I used to get asked this allot and not so much any more. Why is that? Lenders are always saying 45-60 days to close a renovation loan.Lets look at a couple of those that say 45-60.1) The order comes in and the uninformed lender starts gathering the information they need to get the loan in process...
11/25/2016
Why does it take a 203k or renovation loan so long to close escrow?The short answer is that it doesn't take that long if everyone races to the finish line. If you use a proven team you should close a 203k in about the same amount of tiem as a 203b (Standard FHA loan). The problems come up when th...
09/30/2016
Is White PVC pipe adequate for drinking water? Did you ever wonder if it is? I've always heard it wasn't safe for drinking water. So went to the Internet to see what I could find and was surprised.  Those living in older homes should have their water tested to see if lead is a problem. Plastic p...
09/11/2016
I have a rock foundation, will FHA guarantee the loan?If the foundation is still in tact and has not failed, it is very likely you can get FHA Guaranteed financing with the FHA 203b or the FHA 203k programs. Yes is the short answer.I had one of these years ago that we were appraising, the challen...
09/05/2016
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...
08/30/2016
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...
07/01/2016
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...
06/29/2016
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...
06/28/2016
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 ...
06/27/2016
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Mike Young

FHA 203k Consultant 707-812-7668
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