Mike's 203k Blog

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Home Inspector - 203kOnLine.com, covering the USA - S0289
203k loans, the hottest renovation loan product on the market. Offering quick closings on homes that require repairs.

ARCHIVED BLOG POSTS

2012 

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 ...
02/29/2012
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...
02/27/2012
2 Comments
The FHA 203k loan guarantee program is a standard FHA loan (203b) with an additional “construction” component. That is to say you can purchase or refinance a property and get the money to renovate the property all in one low interest loan. The lender actually loans their own money with a guarante...
02/26/2012
This is a big one. If you are involved with the FHA 203k at any level you can generate your own business without allot of effort. Just consistency - it wins out every time. Be there when they need the information. I can’t count how many times I have asked groups at Realtor Associations how may pe...
02/26/2012
How about a Streamlined “k” to save the day? I hear horror stories about home values continuing to drop in many areas. So you have a deal and it is going through the process. There isn’t very much wrong with the home maybe a broken window or two, or dated or stained carpeting, but the seller is o...
02/25/2012
The FHA 203k to the rescue again. That is correct, and if you purchased a 1-4 unit property that you are living in or want to live in, within the last six months and can close the new loan prior to that six month anniversary you get to include the money you already put down as though you had just...
02/23/2012
Easy - it is less expensive and I get a permanent 30-year low interest fixed rate mortgage, one mortgage, no second at a higher rate. Which I see being advertised as before the crises set in. The banks are going back to their old ways of playing with the down payment; you don’t need to do that wi...
02/22/2012
            That is a no-brainer. There are many loans out there that can help you get a fixer both for owner occupants and for investors. We will look at a few for you, while the FHA 203k loan program is not an option for investors           Let’s look first at investor options. Yo...
02/20/2012
 How is a Home Inspection different from a “203k compliance inspection”? A home inspection is a wonderful tool that every home buyer should use when purchasing a home. It puts the client at ease in many cases. Most people don’t buy a house every day and many only buy one their entire life. I had ...
02/19/2012
FHA 203k loan - what is it? The FHA 203k loan guarantee program for renovating your home or a new purchase The FHA 203k loan guarantee program is a standard FHA loan (203b) with an additional “construction” component. That is to say you can purchase or refinance a property and get the money to re...
02/18/2012
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Mike Young

FHA 203k Consultant 916-758-1809
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