Jeff Onofrio- FHA 203K Renovation Mortgage Expert

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Mortgage and Lending - AnnieMac Home Mortgage - NMLS #38670
My blog is here to provide information regarding FHA and FHA 203K and conventional renovation loans for both purchase and refinance. Updates, tips and advice regarding these loans and the industry is what you will find on this blog!
I honestly believe that the FHA 203k renovation loan is the best mortgage product available. The loan creates amazing opportunities in ways that other mortgage products cannot. At the same time it is not the perfect loan for everyone in every situation. Here is how I weigh the FHA 203k loan looki...
For whatever reason, you have heard of the FHA 203k and are intrigued by its great potential to build the house of your dreams. The question is though, are you qualified for this renovation loan? Will you be able to take advantage of all of the great things it has to offer?     Here are some of t...
I am a firm believer in that the FHA 203k renovation loan creates amazing opportunities. That is not to say that it is the perfect loan for everyone in every situation. Let’s take a look at both the good and bad aspects of an FHA 203k loan and see how it weighs out.   The Good          Renovation...
  Just the other week I wrote a blog, “Myths about the FHA 203k.” Since then another misconception has come to mind regarding 203k contractors. Many people want to know whom they have to use and if they need to have a special certification to work on FHA 203k projects.   The answer is NO. Neithe...
Sort of…     The FHA 203k program is specifically for primary residence properties only. It is not intended for investment purposes in the sense of buying a home, renovating it with the FHA 203k, and then selling it. A process that is better known as “flipping.”     There is, however, a situation...
The FHA 203k program provides you with many renovation options. We receive several calls/emails each week from people inquiring about what exactly the FHA 203k can be used for. In this post I am going to cover four of the more popular renovation items that come to mind. Remember that there are ad...
A HUD consultant creates a Specification of Repairs (SOR) after inspecting a property. A SOR includes all of the work that is to be completed in a renovation project. Each labor and material item is sorted, along with its cost, into one of 35 categories and labeled either “mandatory,” “recommende...
Secrets of the 203k Taught by a Realtor..... Please join AnnieMac Home Mortgage on July 18th to Learn the Secrets of the FHA 203k loan taught by one of your fellow Realtors. This event is availbale for CE credit and we will be having one of your own presenting the material.  That's right- a Realt...
Yes it is true. I know if you are reading blogs, forums, posts, articles, etc., etc., about the FHA 203k renovation mortgage it might seem that it might be impossible but let me be the first to tell you that it is possible and even very likely if you have an experienced 203k renovation team surro...
      The FHA 203(k) is a great loan, and these steps will provide you with a road-map to understanding the process.     1)    Buyer works with realtor to find the right property, or owner is ready for renovation on their existing property.   2)    Get pre-approved by lender for the price range a...

Jeff Onofrio

FHA 203k Lender and Homestyle Reno Specialist
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