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.



  Nice post and so pertinent to some of the renovation projects we do throughout the country. I had no idea it was this easy to get rid of that nasty oder. O wonder if it might work for cat smell too?  Your Garage Smells like an Ash Tray…Who Is Smoking Out Here?   I recently went on a listing app...
Can an FHA 203K loan be used for a refinance project?The short answer is absolutely yes. Is a couple scenarios that we're seeing prevalent in today's marketplace.1) first scenario is that you as a Realtor may have sold a home to somebody that needed work. It wasn't quite the house they wanted but...
Let me count the ways or in this case the reasons why a consumer should use the FHA 203k loan program 1) Get to pay less than market prices typically as you are buying a "fixer". Quite often and justifiably so, fixers are less expensive than homes that are fixed up and ready to move in.  2) It is...
Spent many a weekend in Santa Cruz in my teen years. Lots of fun memories there including going there the day after graduation from high school.  Got an FHA 203k project near the Boardwalk in Santa Cruz. The client picked up a duplex that needed considerable work and now we're well underway. The ...
Well the simple answer is "yes and no" the minimum requirement is a 100A - 220V with breakers not fuses. We always recommend that  the old Zensco Main Service Panels be replaced regardless of having breakers or not as they are commonly known to fail. Lets take a look at some we have seen that req...
There isn't a week that goes by that we don't get a new contractor on an FHA 203k project crying the blues about getting money up front to get a project started. No matte rhow in depth we go before hand so they contractor understands that there is NO up front money on a Full 203k project Then you...
Quite often our 203k consultants have other services to offer such as architectural, engineering, mold testing, standard home inspection, termite inspections, and all of these services can be performed on a subject property as needed.These additional services should be paid for outside the 203k. ...
What does a 203k consultant do for their fee?A consultant is required to inspect the subject property and create a “203k compliance inspection report” commonly referred to as a “home inspection”. In reality it isn’t a home inspection as a home inspection is inadequate for our purposesA home inspe...
It depends on who you ask. There seems to be some variance in the answer to this question from various sources. Lets look at the guideline. 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 ...
Once your consultant and borrower have arrived at a scope of work and the appraisal is ordered the scope of work may not be changed. The scope of work is merely a list of items to be repaired or replaced but the appraisal will be based on those items being completed. If those items should not be ...

Mike Young

FHA 203k Consultant 916-758-1809
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