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Just Closed Two FHA 203(k) Streamlines in 25 Days or Less...
What a month!!  I funded three loans yesterday, two of which were FHA 203(k) Streamline loans.  FHA 203(k) Streamline loans should typically take about 35-40 days because of the extra time spent getting the bid from the contractor and the added underwriting and conditions that part of the process brings.  However, we started one of the loans on April 4th and the other loan was submitted on April 8th - this means that we closed this FHA 203(k) Streamline in 21 days.  Of course the clients are happy as can be and the contractor - we have a contractor who is dedicated to this program and he works almost exclusively with us - will start next week and will take about four weeks to complete the jobs (one may take about six weeks because they are getting new cabinets, not just having the current ones refinished).
We are also ramping up our business with the Energy Efficient Mortgage which can be used hand in hand with either the FHA 203(k) Streamline or the regular FHA 203(b).  We are teaching a class on May 18th, 2011 from 11:00 - 12:00 at Keller Williams Market Place if you are in the area and ... more

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