Port St Lucie FL where the 203k is alive and well

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

Port St Lucie FL where the 203k is alive and well

I was just doing some research for our new office in St Lucie County FL where Pete Campbell-FHA 203k consultant is ready to help you with your consulting needs.

Our company has been doing this since 1994 and when the "streamlined k" was introduced in 2005 we continued to inspect for them as well. Not at first, everyone wanted to try one without a consultant as they didn't realize the value of having a home inspector who was also a consultant do their home inspection. Check out our new website

It didn't take long and we were back in the picture. Streamlined k loans make up 98% of the problem 203ks in the nation... that should tell you that a consultant is needed. We had two in one day that were slated to close escrow on the next day when the call came in. The lenders had put these together (two different branches of the same lending company) as streamlined k loans only to have underwriting notice there were structural issues... why didn't they know beforehand? 

I arrived at the first one only to see a high tension tower adjacent to the home... FHA doesn't loan on houses within the fall distance of a tower.  That deal never should have gone forward. Do we have a loan for it? Of course we do and it is a renovation loan but you need to switch gears much earlier in the process. This deal was dead for now. 

The second one we were able to close the next day as originally planned. Our inspection and report were turned in that afternoon... I don't like that on a regular basis so don't get any ideas... lol. We are a Team and we do our part to insure the Team gets these loans closed as fast as possible.

Fast Track your next 203k loan

If you can learn anything from these two stories know that it is to your advantage to use a "team" to close your 203k loans faster and let the team work for you. Had we gone out at the time the loan started, we would have switched this loan to another progam with a renovation component and it could have closed on time, just not as a 203k. What is the correct procedure ?

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.comIf you are looking for quality 203k software for consultants to speed up the underwriting process..

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Comments (2)

Andrew Mooers | 207.532.6573
MOOERS REALTY - Houlton, ME
Northern Maine Real Estate-Aroostook County Broker

Excellent news on this one quality written post.

Jan 29, 2015 12:23 AM
Mike Young
203kOnLine.com, covering the USA - Las Vegas, NV
FHA 203k Consultant 916-758-1809

Andrew, Thanks for stopping by. I appreciate your comment. We have a high balance renovation loan coming out next month up to $3MM - not FHA of course.

Jan 29, 2015 12:57 AM