203k loan roseville: Can you use the 203k to build from scratch on a vacant lot- Sacramento
- 08/02/12 04:46 AM
Of course not. The FHA 203k loan program is a renovation loan product. There must have been a structure on the site with a certificate of occupancy issued at least twelve months prior to the new loan being put in place. Sorry no banana. I have been getting quite a few calls on building from scratch on vacant land and there are several programs that do allow that. One is for Native Americans and it is the FHA 184 loan program. I was talking with Daniel Posehn of Wells Fargo in Sacramento yesterday and he has a pretty good program. I … (0 comments)
203k loan roseville: 203k loans in Placerville
- 03/22/11 03:42 AM
Wow, I made an appointment a few days ago to do a draw inspection for a 203k construction project in Placerville, CA and thought nothing of it as far as the potential weather front coming in over the weekend. There was no snow to be found on my way up but I had another one scheduled a few miles east of Placerville and when I got to the first house, no problem but before I went to the second one, I received a call that was canceling the appointment as they had about 24" of snow over the weekend. I'm thinking, … (2 comments)
203k loan roseville: 203k draw inspections Charlotte and Columbia
- 11/10/10 04:43 AM
This weekend is a Charlotte weekend lots of draws today. I love these draw inspections. What is a draw inspection? Once your 203k project gets underway and work begins it won't be very long before your contractor wants to be paid. They just need to put a call in to the consultant who will typically perform the draws on the project. That call will initiate a "draw request" (sample click here).Column 3 is all that your contractor will fill out, don't total it, just indicate the items and amounts you want to be paid for in the column and sign page … (2 comments)
203k loan roseville: Off Frame Modular homes vs 203k - Stockton
- 11/06/10 12:18 PM
Off frame "modular homes" are a special breed and are treated just like "stick built" home when it comes to the FHA 203k loan program. We have done several of these and they are quite interesting. 1) How about a mobile home built after June 15th. 1976 on a permanent foundation and affixed to that foundation. The home and site must be under the same ownership and considered "real property". This was an older mobile home... yikes! but were able to use the existing foundation and install new modular home using that foundation and expanding it to fit the new larger home. The … (0 comments)
203k loan roseville: 203k tale of two cities, El Dorado Hills and Folsom CA
- 10/29/10 01:42 PM
A tale of two properties in two cities actually. City number one has a 203k loan on a home that you might not expect to see as a 203k. Isn't this terrific? I think so. 4,500 SF home with tile roof, wood plank hardwood flooring, lots of tile, high ceilings. partially finished pool, mature trees. large patio, three car garage, central vacuum system. This is a 203k, nice neighborhood, nice home, well maintained for the most part, a little water damage and an unfinished pool make it a 203k. This is soooo cool. This home has cherry wood cabinets, crown … (1 comments)
203k loan roseville: 203k Seminar - Stockton CA
- 10/28/10 02:41 PM
203k Seminar - Stockton CA Had a wonderful time with Catalyst RE in Stockton with Gwen Woods from American Pacific Mortgage who was providing the snacks and coffee for the group. We also had a guest from Zip Realty there. I love it when a lender like American Pacific Mortgage gets it... I mean they know to invite more than just one RE office to these 203k loan events in Stockton. The group was very attentive and had great questions. I think we opened their eyes to several aspects of this tool - The 203k loan program. That's all it is, … (0 comments)
203k loan roseville: 203k on the radio in Roseville CA
- 10/24/10 04:56 AM
Wow, I just lost the blog... my computer browser decided to close before I was published..., lets see if I can get back to where I left off... I was listening to the radio Saturday, yesterday, and found a wonderful radio show by a Vitek Mortgage fella and a knowledgeable moderator. Sorry guys I was more interested in what you were saying than who was saying it. I apologize for that. Anyway, a caller came on talking about his home that had been worth about $500,000 but in this market they listed it for $350,000 but the offer came in low, … (0 comments)
203k loan roseville: EEM - Energy Efficient Mortgage piggyback for 203k - Roseville
- 08/21/09 03:32 PM
HERS Raters are doing an amazing job... they make a detailed inspection and come up with a report that will tell you all the energy savings you might consider then list them in the "most benefit to you" order. This is essential when you are looking at the "payback" as they give you a good look at just how fast you can expect to recover your expenditure for the EEM items. Wow. I think we all know that dual pane windows have very little energy savings and take a long time to pay for themselves... usually a lot longer than most … (0 comments)
Of course not. The FHA 203k loan program is a renovation loan product. There must have been a structure on the site with a certificate of occupancy issued at least twelve months prior to the new loan being put in place. Sorry no banana.
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