Mike's 203k Blog
203k loans, the hottest renovation loan product on the market. Offering quick closings on homes that require repairs.
ARCHIVED BLOG POSTS
2012
Yes, in case you were wondering, we got a call yesterday from someone in the Los Angeles area inquiring about a loan for a Mixed Use property. I really like this type property for a entrepreneur who wants to live close to their place of work or a new investor who can get their feet wet in a mixed...
11/14/2012
Mixed use buildings are a challenge to finance sometimes but not with the FHA 203k loan program. While they don't guarantee commercial loans they do mixed use buildings that have residential uses on the second and subsequent floors. The break down for a mixed use building is that it can only hav...
11/13/2012
Why not use an FHA 203k to finance your next Jumbo Loan and get the money to renovate the property or make necessary changes at the same time? Loan limits for mixed use and a fourplex are the same and include Two unit property Three unit property ...
11/12/2012
A seller’s agent should know that a 203k buyer can get a loan up to 110% of the appraised value after the rehab is complete. To get the most out of a property for your seller you should know the cost to repair and bring the property to the HUD Minimum Property Standards (MPS). How can you do th...
11/11/2012
This is a sister post to the "seller's agent" posted yesterday The buyer’s agent is trying to get the best possible price for his client. There seems to be a conflict of interest here that is built into the process. The lower the price, the lower your commission. Oops. In any case the buyer needs...
11/09/2012
203k for Realtors from San Jose to Placerville 1) What properties are eligible for financing under the 203b loan program That is the loan that has been most commonly known as "the standard FHA Loan" and used by millions of American home owners over the years since 1931… 1-4 family residential pr...
11/08/2012
Since the construction in many cases right now exceeds $300,000 and sometimes exceeds $400,000 is all the more important to choose a good renovation contractor. Each contractor will be "validated" by the lender. This process is relatively easy and requires the contractor to fill out a few referen...
11/08/2012
Sheir McGlothlin has been steadily knocking them out of the park over and over again. Sheri knows her FHA 203k loan stuff and is one of the few LOs in the area that can actually close an FHA loan. I would say that Sheri is heavy hitter in this market and can attest that she really has this down. ...
11/06/2012
Or anywhere else for that matter? Each county has it's own FHA maximum loan limits and they can be found at this HUD link https://entp.hud.gov/idapp/html/hicostlook.cfm. That's right but you asked what is the maximum construction amount? But the figure the maximum construction amount you have to...
11/04/2012
It is understood that the FHA 203k program cannot add luxury items but they can repair and existing swimming pool up to $1,500. So, what are you to do when you want to add a swimming pool? One answer is the FNMA or FannieMae HomeStyle loan program as it will allow you to add a swimming pool and o...
11/03/2012
Rainmaker
666,685
666,685
Mike Young
FHA 203k Consultant 916-758-1809
Service Areas
Real Estate Resources
Recent Posts
Home Buying
about 2 hours ago
Home Buying
about 1 month ago
Real Estate Sales and Marketing
about 1 month ago