203k Loan Origination Continues To Grow

By
Mortgage and Lending with Guaranteed Rate NMLS 2611 NMLS 260770

HUD has released its fiscal year-end FHA loan endorsement figures for 2010 (year ending September 31, 2010). As you can see by the chart below the number of 203k loans insured in 2010 was in excess of 22,000. Over the past five years the 203k has seen an increase in production from 2,924 loans in 2006 to 22,491 closed loans in 2010.  

The FHA 203k is a valuable tool for financing homes in today's residential real estate market. Take the time to learn the basics and find a team of 203k professionals (a lender, 203k consultants and 203k contractors) that can help you increase your sales production.

FHA 203k Closed Loans - Nationwide

Comments (4)

Steve, Joel & Steve A. Chain
Chain Real Estate Investments & Mortgage, Steve & Joel Chain - Cottonwood, CA

Dustan,

It's great to see your post. We are in the middle of our second 203K and have found it a great product and very smooth. As you say it does take a team.

Wish you much success in the ActiveRain,

Steve

Feb 27, 2011 01:53 AM
Rodney Mason
Guaranteed Rate NMLS# 2611 - Atlanta, GA
VP of Mortgage Lending - AL, FL, GA, SC, & TN

More are finding out about 203K loans.  I know that my calls for them have picked up.

Feb 27, 2011 01:53 AM
Kim Dove
Watson Realty Corp - Jacksonville, FL
Realtor - Jacksonville FL

This is a much needed program unfortunately I have been unable to use it thus far.

Feb 27, 2011 01:57 AM
Christine Thierry
CrossCountry Mortgage - Sagaponack, NY
CRMS

203k loans are a great program.  It makes sense to renovate rather than move.  Call me for a 203k loan in Pennsylvania 866 577-PENN.

Mar 01, 2011 02:49 AM