203k consultant walnut creek: FHA loans in Walnut Creek, Orinda, and Lafayette? Of course! - 11/27/12 11:49 PM
There were many years when you thought of an FHA loan as a low income loan for homes in less affluent neighborhoods. Not any longer, at least for a while longer. Better get yours done asap.
Why would you want an FHA 203k loan in any of these areas? Simply this... you don't want to put all the money down to purchase your home. You would like to keep some cash in the bank.
Example 1: Purchase price $850,000 + construction cost of $100,000. If the property requires repairs of $100,000 you won't likely get a loan of any size on … (1 comments)

203k consultant walnut creek: Investors and the FHA 203k loan program - 03/08/12 03:21 PM
Investors and the FHA 203k loan program This post will tell you of an investor loan product you can use right now as you wait for the FHA to get their act together.
While investors used to be able to purchase fixers and get the money to fix them up with the FHA 203 loan guarantee program. That was quite a program. It had a feature called "the escrow commitment procedure" that allowed the final "after improved" value to determine the 96.5% loan amount. The investor's profit was incorporated into the loan and the loan was "assumable" so once the borrower … (0 comments)

203k consultant walnut creek: Can my lender really get an FHA 203k loan closed? - 03/06/12 11:52 PM
That is always a quesiton because there are many out there who profess to be renovation lenders. Don't get me wrong, There are a good many who can and do close them everyday. Today we are going to talk about just one of them. 
Ed Rogers of Wells Fargo Home Mortgage in Walnut Creek, CA. Ed is one of a handful of renovation lenders that understands these programs and that is a mouthful. It says volumes about this guy. I know that when I get a call from Ed that this deal is a "done deal" the borrowers already qualify for … (2 comments)

203k consultant walnut creek: 203k consultant Walnut Creek - 12/01/11 01:37 AM
The FHA 203k loan program is alive and well in Walnut Creek, Orinda, and Lafayette. Wow. who would have thought. When I got into this product in 1994 the FHA loan limits were so low that the projects were always in low rent districts. 
Today we have many 203k projects where the borrower is buying a property that requires repairs in order to get a mortgage loan, where the values of the homes start at $500,000 and then they add the money for the repairs for another $150,000 and end up with a home that has equity. 
That has always been … (2 comments)

203k consultant walnut creek: Time is of the essence on 203k project completion - 07/11/11 03:45 AM
You can tell people a hundred times that time is of the essense and the work should progress at a good pace through completion. Sometimes it falls on deaf ears.
Example 1: Recently a client closed a 203k loan and became incomunicative. No one could get hold of her. The contractor failed to start the work saying he MUST have communication with the client prior to entering her property to start the work, and rightly so. I drove over to the home and whne I made contact dialed the contractor thinking it was handled... NOT
Several meetings were missed but finally … (0 comments)

203k consultant walnut creek: 203k is alive and well in Pleasant Hill CA - 05/20/11 04:22 AM
Two in two days... things are heating up with regards to the FHA 203k loan proram in Pleasant Hill CA. I love this as this is where I went to high school and a couple years at the Jr. College. wonderful community and more nice people moving into the area and fixing their new homes up with the program. 
I love this business where we get to see smiling faces most every day as they decide on what repairs they will make going into their new home.
Yesterday it was a straight purchase then they will do a refinance into the … (0 comments)

203k consultant walnut creek: 203k training Walnut Creek - 03/30/11 02:17 PM
Bank of America with Jim Black and Chris Wells and their team will be at the Elks Club at 1475 Creekside Drive Walnut Creek, CA 94596 on April 27th, 2011 at 11 am - 1:30 and serving lunch
 
If you haven't had the chance to see Jim put on his take on the features and benefits of FHA 203k financing, now is your chance. Don't miss this one, did I say I'll be center stage talking about what the consultant can do for you.
What you will hear is some great info on:
1) how you can profit from the … (2 comments)

 
Mike Young, FHA 203k Consultant 916-758-1809 (203kOnLine.com, covering the USA) Rainmaker large

Mike Young

FHA 203k Consultant 916-758-1809

Las Vegas, NV

More about me…

203kOnLine.com, covering the USA

Address: Wherever you need us to be, Fairfield, CA office, Fairfield, CA, 94534

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