Another hot bed of activity. We have a few going on in that community and it seems we are about to have several more. Santa Cruz Home Finance has several in and seems to be the leader in that area at this time. You can't go wrong with people like Tai and Peter Boutell working with you on your 203k needs.
I love it when a mortgage company has people who not only understand the program but understand it well enough to be able to show others. Education is what it is all about. Get out there to the Realtors in your area and let them know how to use this too.
Make no mistake, the FHA 203k loan program is just a tool but a powerful one. You can get your home sold even if it has imprefections. Most loan programs will require you to make the repairs prior to closing the escrow. The FHA 203k allows all work to be done AFTER it closes which is HUGE.
Get the loan closed and get your sales commission then the work begins. Who can beat that? Need a roof, use the 203k, need a new bathroom or kitchen, these all can be Streamlined k loans not even the Full 203k. Major repairs, not a problem just go to the Full 203k program.
Septic work needed, is always a Full 203k loan as it is considered structural. The streamlined k is for "light work" non structural in nature but can include updating kitchens and bathrooms, carpeting or other new flooring, paint, new windows, etc. Contact Tai or Peter, or Tammy Blanchard at Santa Cruz Home Finance as your local expert on the 203k, they do them both, full and streamlined k's.
If you are a local contractor looking for work you should contact them to get on their list of approved/validated contractors.