I'm sorry that I haven't had much time to write a blog post and hope to have some time to do so this weekend. Wow, it is getting so my wife hardly recognizes me lately. lol - I'm not complaining, I'd much rather be busy than not.
We have some very interesting homes going on right now, one in the Oakland Hills that is huge. An older home had been razed and a new home started in it's place, If there was a piece of the foundation it wasn't available for viewing at the time of my inspection. In any case for other reasons it became a conventional loan and is proceeding as a conventional deal. Yes, it still needs to be completed. The Fannie Mae "HomeStyle" loan program works just like the FHA 203k and we consult for both. It has some other nuances that make it more advantageous under certain circumstances.
While the 203k is the main stay of our business it is a viable option to some of the projects we see.
In the case of a major swimming pool repair over $1,500 the Fannie Mae product can do that, or even build a new swimming pool.
If you have an American Indian as a client there is another unique program called the FHA 184 loan guarantee program that will allow as little as 2.5% down payment and construction from the ground up, you don't have to have ever had a house on that lot.
We have a new addition to our team in Modesto - Lando Matthews is now an approved 203k consultant.
I'll see you again this weekend with something with photos... M