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

2014 

Prior to 2005 all FHA 203k loans were Standard 203k's then along came the Streamlined k in an effort to save the consultant's fee primarily... I have to laugh because according to HUD the Streamlined k loan accounts for about 98% of the problem 203k loans. mmm...  We save our clients several time...
02/25/2014
I love to find the worst house on the block when the block is bringing in sales prices fixed up at twice the value. I may buy this one myself. Contractor's special they quite often say but with the FHA 203k and the FNMA HomeStyle Renovation loans it is buyer's dream home too. Yes it needs work bu...
02/23/2014
Lately I'm wondering that myself. Normally we provide the first "scope of work" then bid the job, and put it out to bid to contractors but lately we are being undermined by the home buyer. They think they will reinvent my job and do it their way... and it is costing them money.  Example 1 Buyer g...
02/19/2014
There seems to be a large range of answers when you ask this question. They are not all correct however.  A consultant's job is to protect the client by forearming them with the cost of their construction prior to going out to bid. Giving them an idea of the cost of their project prior to taking ...
02/16/2014
No, sorry to say, BUT WAIT, we have a program that will do that very thing. The FannieMae HomeStyle Renovation will allow you to install a brand new pool and do the other repairs you may want to do. You don't gain the 10% advantage on the appraisal but otherwise it works very much like the FHA 20...
02/15/2014
We did a log home this past week, waiting for the contractor's bid to come in. It isn't a log cabin as it is huge.  Can the fireplace be the only source of heat for my new home in the mountains?  The Guideline actually states the heating system must be capable of maintaining 70 degree's at 36" of...
02/09/2014
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Mike Young

FHA 203k Consultant 916-758-1809
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