getting your loan to close fast - 12/25/09 08:22 PM
It doesn't matter what type of loan you are trying to get. Most of them have similar requirements as far as the information they need to process. I hear daily of horror stories about how long it takes one lender or another to close a loan. If you are really serious about getting a mortgage loan and want to do it fast start putting your information together so you can get it done quickly. In most cases your lender can close a loan in 30-45 days... from the time YOU turn in a completed loan application. You can't complain it is … (2 comments)

Realtors as 203k consultants - 12/23/09 08:38 PM
I have had several real estate professionals ask me this week about becoming a 203k consultant for the 203k. Would it be a conflict of interest? It is more of a disclosure thing I would think but if you were worried about a conflict then merely step back and call for a "plan review" at the appropriate time and the conflict is ended. 
If a realtor was a consultant they could get the consulting done way early in the process and pick up some "up front" money as they waited for their commission check. 
Drawbacks? qualifications... you may or may not … (1 comments)

203k is getting better Vallejo - 12/23/09 08:21 PM
Wells Fargo is the champ at the moment. I'm seeing contractor draw payments in 2-3 days. Prospect Mortgage is going to start making the first draw on a streamlined 203k at close of escrow in January... they are already one of the largest 203k lenders in the nation. That will move them strongly into second place I believe. Lots of independent FHA lenders out there... smaller banks etc that can close them pretty fast. Don't discount the little guys. 
I had a strange call tonight. She said she was a borrower gathering info.. .sounded a little more line an interview for … (0 comments)

203k and Prospect Mortgage - 12/10/09 06:54 PM
Prospect will be making the first draw on Streamlined k loans after the first of January. No more waiting 90 days for the first draw from that other lender. That is correct. My last streamlined k with the other lender was 90 days to get the first half of the money to get the contractor started... the job will be completed just 2 weeks after the borrower received the first half of the money. Nightmare city. M
… (0 comments)

203k and Wells Fargo Home Mortgage - 12/10/09 09:22 AM
Hey guys. I have been very lucky to meet (on the phone) with a couple of the renovation draw people at Wells Fargo draw disbursement center... Maria and Mary who I am utterly impressed with. They are very good to deal with and have made it a pleasure to work with that team. I'm sure there are others but these two people have such a grasp of the program and how important it is to get our contractors and consultants paid after that draw is complete that I'm just so impressed. My contractors on the last few draws we have done … (5 comments)

 
Mike Young, FHA 203k Consultant 707-812-7668, the203kconsultant (203kOnLine.com) Rainmaker_large

Mike Young, FHA 203k Consultant 707-812-7668

the203kconsultant

Fairfield, CA

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203kOnLine.com

Address: We cover northern CA from our, Fairfield, CA office, Fairfield, CA, 94534

Office Phone: (707) 812-7668 x 203

Cell Phone: (704) 451-1599

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