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san rafael: 203k nostalgia - investor program - Sacramento to Santa Rosa - 03/31/12 10:01 PM
During the 1990's there was an investor loan program that had what they called the "escrow commitment procedure" whereby the investor might purchase a property for $200,000, add another $200,000 in repairs, and if it appraised for $600,000 it would get an "escrow commitment" based on the "after improved" value of $600,000 x .965 or $579,000 would be placed in an escrow. 
The loan closes and the construction begins just like the owner occupied program. As the work progresses draw payments are paid out for work completed which is still verified by an inspection by the 203k consultant now acting as … (5 comments)

san rafael: FHA maximum mortgage amounts are on the rise again... hooray for FHA - 12/09/11 01:16 AM
The FHA Maximum Mortgage Limits are increasing to match the limits used earlier this year effective on January 1st 2011. That means in the high cost areas we will be back to $729,750... yahoo!
Don't forget the mixed use buildings with four residential units and fourplexes can go as high as $1.4 million. SF and surrounding counties this is your chance to move some of those mixed use and larger four unit buildings. 
Also rememember it can be anything before the renovation as long as it is 1-4 units after the renovation. 
… (1 comments)

san rafael: 203k consultant in Fairfax to Santa Rosa - 09/23/11 08:52 AM
Wow, we are very thankful for the volume of business we get from the local communities. This has been a very busy past few weeks... not too busy but it is fun to see an area as the local real estate market embraces the FHA 203k. 
I've always been excited when someone new understands the power of the 203k but when a community or local area gets it, it is phenomenal. Kudos t you in Marin and Sonoma Counties for getting on board and moving those "hard to sell" properties as you are. Go for it.
We have a couple that … (0 comments)

 
Mike6 Rainmaker_large

Mike Young, 203k Consultant 707-812-7668

Roseville, 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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