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I want to do the bare minimum required by HUD for my FHA 203k project

By
Home Inspector with 203kOnLine.com, covering the USA S0289

How many times have we heard that? About  every week someone tells us that and it is likely the worst thing you can do or for sure one of the worst things you can do.

Why? There are no guarantees in life, and I don't want you to become a slave to your house. Get it fixed up like you want to live in it. Yahoo, then enjoy the heck out of your new home. Take the weekends off and have fun. Invite your friends over for a BBQ, swimming party, or just to play cards.

So many times I see people that put so little into the home for fear of the mortgage payment... a real concern for sure, but not the only concern. 

I don't want to hear that you came up short of funds for the repairs due to something discovered during the course of construction that was more than your contingency reserve. It happens folks. 

Once you get the work completed we suggest you go back to your lender and look into refinancing out of that high PMI loan and get rid of the PMI (Private Mortgage Insurance). 

I'd like to see more activity in the Central Valley, selling or buying a home that needs any amount of work can also gain you 10% on your appraised value.

Posted by

Mike Young, 203k Team Leader    Mike ready for your 203k order

To learn more about the FHA 203k loan program go to www.203kOnLine.comWhat is your fee? 

Got a 203k project giving you "fits" contact www.203k911.com. If you are looking for quality 203k software for consultants to speed up the underwriting process..

877-207-6565  state your name when asked please, it is dialing me at the same time.

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Comments(2)

Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate Services

Mike, People don't know what they don't know. What people need is a plan. Many don't have one. With your help, they can create a plan that will allow them to live in a home that's nicely done and enjoy their life too.

I look forward to seeing you next Friday!

Mar 21, 2014 11:50 AM
Mike Young
203kOnLine.com, covering the USA - Stallings, NC
FHA 203k Consultant 916-758-1809

Kathleen, thanks for stopping by, I'll see you on Friday

Mar 22, 2014 12:46 AM