san ramon: FHA 203k loans are alive and well in Contra Costa County
- 06/20/13 11:29 AM
FHA 203k loans are alive and well in Contra Costa County Here are the cities of Contra Costa County official web sites. We have an FHA 203k loan going on or recently completed one in each of these cities. I'm glad that you all are opening up to taking and making offers that involved the renovation loan program either Streamlined k or Standard 203k projects. Just finished one in Alamo for $729,750 loan amount, appraised for $2.1 million. That's what I'm talkin' about It goes to show you that many most of you are getting the message. The advantages to name … (0 comments)
san ramon: What about mold issues, can we clean that up with a 203k?
- 06/15/13 03:42 PM
What about mold issues, can we clean that up with a 203k? Yes, mold, asbestos, pet stains, and anything like that can be part of the FHA 203k repairs. We do mold testing so we see our share of mold. I once had a job at the "Cat Lady's House" what a smell. One of the most difficult smells to really get rid of for sure. Most houses we deal with show signs of animal stains, how can any home be yours till you change the carpeting and clean that sub floor?
This pipe or flue to the right … (0 comments)
san ramon: Not all contractors should be - from San Diego to San Francisco
- 12/06/12 03:17 AM
Who would have guessed we would be working in some of the nicest neighborhoods with the FHA 203k loan program? Certainly not me. This is a home the first time we saw it... a licensed contractor was workoing on it and this is the result... when the home owner said "why is there a post in front of my window the contractor suggested it had to be there and it would be a great place to hang her photos....
This is outrageous that an architect drew the plans and allowed this licensed contractor to build it this way. This was … (0 comments)
san ramon: Do we need a termite report on a 203k loan? Gilroy to Stockton
- 02/29/12 12:26 AM
The HUD guideline for the FHA 203k loan program doesn’t “require” a pest control report however it does “require” a pest control clearance at the end of the project. Therefore all of the lenders I’m aware of have a “supplemental requirement” calling for a pest report going into the project if it is a “full 203k loan”. What about a Limited 203k? Do we need a pest report? Not necessarily. If you don’t have one you don’t need to respond to the repairs. If you have one and it is a Limited 203k, you may now have to clear it. On the other … (3 comments)
san ramon: I’m a home inspector, why do I need to know about the 203k?
- 02/27/12 11:12 PM
I’m a home inspector, why do I need to know about the 203k? There are several good answers to that. Every home inspector has been accused of “killing the deal” at one time or another and it just isn’t true. The home inspector is hired to discover whatever they can to “inform the borrower” so they go into the transaction with their eyes wide open. In any case they never kill a deal, the deal just becomes a 203k loan. I did an inspection for a 203k loan refinance and room addition in which I discovered some foundation issues and when … (1 comments)
san ramon: 203k is a "spread the wealth" product
- 06/19/11 06:07 AM
The concept behind the 203k originally was to "Spread the Wealth" therefore the set up some "confilcts of interest". You can't be the appraiser. the contractor, consulant and the lender, etc at the same time on the same project. Taking that a step farther when you put a 203k project together and are putting the work out to bid... make every attempt to use contractors who are in the neighborhood where the home is or hire from that neighborhood. An investment in a home is a big investment. If you want the neighborhod to thrive you must "support it" by shopping … (1 comments)
san ramon: How do I choose an FHA 203k consultant for my client?
- 12/12/10 04:56 AM
What do you need to look for when choosing an FHA 203k consultant for your client? That is a big question that requires careful consideration. About ten years ago HUD came out with a “Notice” that all consultants are supposed to read to their client at the time of the consultation. It reads something like this “The local HUD office does not warrant, accept liability or responsibility for the competence of the Consultant or the quality of the work product the consultant may perform for the Borrower(s).” When you are seeking a 203k consultant you want to know 1) How … (0 comments)
san ramon: Buy a SMALL home in Richmond CA and make a room addition
- 11/29/10 04:31 AM
... or anywhere else for that matter. Small homes are coming back into Vogue but some are so small that you can't get a loan on them. I was listening to the commentator on the radio on the way into the office this am and they confirmed it. What do you do when you can't get a loan on a home because it is too small? Easy, it is a 203k or Home Style Renovation project. If you add on to a home it is a 203k. Therefore if you have a listing that is too small and can add on … (3 comments)
san ramon: What does a 203k consultant do for their fee ?
- 10/20/10 04:10 AM
What does a 203k consultant do for their fee? We get asked this question quite often actually. What does a 203k consultant do for their fee? That is a great question and one that deserves an answer as our fees are about 1% of the construction amount. The fee schedule was set by FHA in 1994 and hasn't been increased since however in 2009 they relaxed the rules and allowed the consultant to start charging mileage fees which was prompted by the higher cost of fuel and though the rate has come down we were able to keep that mileage charge. … (0 comments)
san ramon: 203k for consumers - Stockton CA
- 04/04/10 07:58 AM
Well we are coming up on Tuesday the 6th... wow. time flies when you are having fun. If you are a consumer and you have been having problems finding a property in the Sacramento area... you need to stop by and see one of our 203k team agents. We have properties in all areas of the state. We usually find them a month or so before they get listed and you can too. If you come to one of our seminars we'll hook up up with a Realtor or agent to find a property for you. They may be all fixed … (0 comments)
FHA 203k loans are alive and well in Contra Costa County Here are the cities of Contra Costa County official web sites. We have an FHA 203k loan going on or recently completed one in each of these cities. I'm glad that you all are opening up to taking and making offers that involved the renovation loan program either Streamlined k or Standard 203k projects. Just finished one in Alamo for $729,750 loan amount, appraised for $2.1 million. That's what I'm talkin' about
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