203k consultant san jose: Increased 203k loan limits for 2023
- 01/01/23 12:33 PM
SF Bay Area benefit greatly for Increased 203k loan limits for 2023Single family loan amount is $1,089,300 when you adjust to include the 3.5% down payment that is a home in the range of $1,128,808.
Duplex loan limit is $1,394,775 and when adjusted to include the 3.5% down payment comes to $1,445,362.
Triplex loan limits is $1,685,850 and when adjust to include the 3.5% down payment comes to $1,746,994.
Lastly a fourplex loan limit for 2023 is $2,095,200 and adjusted for the 3.5% down payment comes to $2,171,191.
That isn't to say you can't put more down. So you want to purchase a fourplex in … (3 comments)
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203k consultant san jose: Homes in my areas are too expensive for FHA Loan Limits
- 08/20/22 01:37 PM
Homes in my areas are too expensive for FHA Loan LimitsDon't fool yourself into believing that lie. I hear this all the time. Once I heard it in Fairfield, CA where the Realtor thought FHA loan limits were only about $200,000 when it turned out they were $565,00 at that time.
Today if you do an FHA loan in San Jose, CA the limits are (updated 10-27-23)
… (1 comments)
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203k consultant san jose: 203k consultant San Jose
- 05/23/22 07:21 PM
203k consultant San JoseWe typically run from 5-30 projects in San Jose at any one time. We had a question one day if we would go to San Jose... why, yes we would. We actually had some in Watsonville, Santa Cruz, Santa Cruz mountains, Scotts Valley and another 29 in San Jose.
If you need a 203k consultant or HomeStyle® Renovation Mortgage consultant we would love to help you out. We should be one of the very first people on the site to assist in creating the scope of work and provide a bid so the client has a clear picture of … (0 comments)
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203k consultant san jose: 203k consultant San Jose to Sacramento
- 09/24/21 05:33 PM
We consult all over the USA. If you have ever had an issue finding an active consultant, we can do that for you so you aren't wasting your time and energy. Just place an order by clicking on this link... PLACE ORDER. and we got your 6. Regardless of where the project is we will find a consultant for you.
I had a call from San Jose a few years ago and the client said can you do the 203k consulting for a project in Felton, CA? I looked and we had 29 projects going from Santa Cruz to San Jose, Morgan … (0 comments)
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203k consultant san jose: My house is under construction, can I get a loan to finish it?
- 03/11/16 01:40 AM
My house is under construction, can I get a loan to finish it?
Yes, actually and you have a choice. But Beware!
I recently was called when another consultant did a 203k inspection and write up. The loan was about to close when the title company refused to provide clear title. In case you aren't aware, the title company will always drive by the house they are insuring just before it is to record. That has always been the protocol.
In this case what they saw was a brand new garage slab and driveway. OOPS! Title companies don't like construction to be apparent at … (0 comments)
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203k consultant san jose: Since 14 Sept 2015 with FHA 203k
- 03/10/16 12:24 AM
Since 14 Sept 2015 with FHA 203k
The "new" guideline has some good things inside for those who like Mixed Use buidlings as I do. The guideline used to be that we had to maintain no more than 25% commercial on a single story building, no more than 49% on a 2 story and no more than 33% for 3 or more stories.
We now have had simplified to the structure may be 51% residential regardless of the number of stories, and the commercial use is restricted to the first floor only and cannot adversely affect the residential use. In other words it … (0 comments)
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203k consultant san jose: You forgot the case number on our 203k paperwork
- 03/05/15 02:12 PM
This one gets me all the time. You forgot the case number, here it is please insert it on each page of the report. I'm surprised you forgot it with as many of these as you have done.LMAO, the case number is ordered after our report is completed and turned in. It is ordered when the order the appraisal, they can't order the appraisal till they know the cost of the repairs. It is a "catch 22" for sure. There isn't a week that goes by that we don't get asked to provide the case number on all the forms. It … (3 comments)
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203k consultant san jose: FHA 203k renovation lender San Jose
- 06/28/13 02:30 PM
FHA 203k renovation lender San Jose I have seen some hot lenders in the past seventeen years as a 203k consultant in San Jose but I must tell you that Don Jr. with Prospect mortgage is one of the most energetic loan officers and extremely knowledgeable in the FHA 203k and the FannieMae HomeStyle renovation loan products that I have ever met.
Don clearly thinks out of the box and is proactive in the business. Today he and Larry Fordyce of Team Fordyce were giving a 203k talk in San Jose with about 100 in attendance. No wonder with mass education of … (0 comments)
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203k consultant san jose: 203k for Realtors from San Jose to Placerville
- 11/08/12 10:53 PM
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 properties with the emphasis on the 1 family or single family home. You find a home that fits the buyers needs without need of repairs and they buy it.
2) How is the 203k different? On the surface it isn’t different. A 203k is merely a 203b with a construction component. Once … (2 comments)
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203k consultant san jose: FHA 203k loans in San Jose
- 06/27/12 01:30 AM
San Jose is heating up, wow, lots of activity there.
I find it so interesting to see an area explode like San Jose is doing right now. It is interesting because they, as a group, finally get it. Once you understand the power of a 203k to move properties and stimulate the economy it is amazing to watch it take off like a rocket.
This week we have about 8 new projects going in that one area, fantastic. One only has a foundation and we the project will be to build a new house on that foundation.. perfect for a 203k … (3 comments)
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203k consultant san jose: Busy Busy Busy - FHA 203k from San Jose to Stockton to Santa Rosa
- 05/16/12 12:11 AM
I'm sorry that I haven't had much time to write a blog post and hope to have some time to do so this weekend. Wow, it is getting so my wife hardly recognizes me lately. lol - I'm not complaining, I'd much rather be busy than not.
We have some very interesting homes going on right now, one in the Oakland Hills that is huge. An older home had been razed and a new home started in it's place, If there was a piece of the foundation it wasn't available for viewing at the time of my inspection. In any case … (2 comments)
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203k consultant san jose: 203k consultant in San Jose CA
- 02/02/12 04:53 AM
203k consultant in San Jose CA The consultant's job is to write up the bid specification and that has some "due dilligence" that goes along with the responsibility. It is often interesting to me how the RE agent and sometimes the Lender will push to get this done in 3 days and start calling every day thereafter to push this to an end. Lets look at the process...
1) Lender gets the loan started, they typically have it a week or two then pass it to us
2) We make an inspection and inform everyone that it should take about 4 … (0 comments)
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203k consultant san jose: 203k loans are strong in San Jose
- 08/15/11 03:19 AM
203k loans are strong in San JoseEducating the local Realtor Communities on the FHA 203k loan program. is paramount in getting them closed fast.
If you need a presentation in-house for your group or association please contact us and we'll get it set up. It really makes allot of sense when you think about it. If you are all educated in the ways of this loan product it is easier to present and to accept these loans.
It is so rewarding to have a buyer get their home fixed up and turned into their dream home.
If you haven't already heard the FHA maximum … (1 comments)
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203k consultant san jose: Lead and asbestos testing for 203k projects
- 08/04/11 02:46 AM
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 money for testing even after it closes escrow.
I say that is outrageous waste of my client's money. All work will be completed after the close of escrow, even testing. In the meantime "assume" it has asbestos and lead and move forward with your bid.
If you have … (1 comments)
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203k consultant san jose: 203k loan in San Jose area
- 05/19/11 02:48 AM
Yesterday we had a great time in San Jose with Rob Gilroy, his boss Ricky, the entire crew from Bank of America as well as Megan Davis from B of A in Campbell. There were quite a few agents in attendance and they were getting it down as the questions from the audience were a good indication of their interest and level of understanding of the program.
It is always a pleasure speaking to a group who actually "gets it" as the FHA 203k loan program is a powerful tool While it isn't the only one out there it is clearly … (0 comments)
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203k consultant san jose: Who chooses the consultant?
- 02/13/11 11:13 AM
Ultimately your lender must approve the consultant. We get quite a few loan leads and send them to the lenders who use us of coures. It insures some loyalty and it completes the circle. The borrower quite often doesn't pruchase a house every day so they need a consultant to guide them through the forest safely. That is about what we do for our clients.
We meet with the client and go over the paperwork pointing out a number of things that other borrowers have had difficulty with in the past. That saves the client from having to learn under fire. … (0 comments)
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203k consultant san jose: FHA 203k Live/Work from Los Angeles to San Diego
- 03/15/09 06:21 AM
FHA 203k Live/Work from Los Angeles to San DiegoA program for turning a warehouse into live/work residential units with only 3.5% down payment.
FHA loan limits have been increased dramatically and that includes the FHA 203k. Most real estate professionals are missing the boat with mixed use buildings, warehouses in residential neighborhoods, and larger income units from 5-8 units... all of these are 203k potential.
Warehouse - turn it into "Live/Work" units up to 4. Yes the owner must live in one unit but many people would live in a "Live/Work" unit know lots of other people who might like that too and become … (3 comments)
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SF Bay Area benefit greatly for Increased 203k loan limits for 2023Single family loan amount is $1,089,300 when you adjust to include the 3.5% down payment that is a home in the range of $1,128,808. 
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