203k loans, the hottest renovation loan product on the market. Offering quick closings on homes that require repairs.
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We have been doing FHA 203k loans in Oakland since 1994 but all of a sudden it is like day and night with all the new requests. I think someone has been doing some very effective marketing and the light has gone on. It is amazing to see this loan program in full bloom and it is happening again. T...
There seems to be some confusion as to the level or standard of construction that we must adhere to for the FHA 203k. There wasn't any confusion last year or the year before etc.. but all of a sudden it seems some of the contractors are confused as to the level of quality. It is my opinion that ...
The consulting process includes a site visit for the "initial walk thruough" where the FHA required items are discovered, then added to the buyers "wish list" to create a "SOR" (scope of renovation) or "SOW" (scope of work) which becomes the baises for the draw inpections. We normally will have t...
Wow, this week has been full of issues surrounding asbestos and lead testing. It seems that some contractors are concerned that they dont' even want to provide a bid on a project until $1,600 worth of testing has been completed... even the $1,600 sounds high. I haven't had to spend that kind of m...