Admin

Conover, NC is ripe for FHA 203k loans

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

Conover, NC is ripe for FHA 203k loans

Who would have guessed? Actually, every area where homes are over 1 year old. That's right. No mistake.

From a practical standpoint, I believe every home sale should be accompanied by a renovation loan. Why? Because it's rare for a home being sold to meet 100% of the buyer's expectations. A renovation loan empowers the buyer to customize the home to their liking, making it a perfect fit for their personality.

As someone who is currently in the process of buying a home, I can personally attest to the benefits of a renovation loan. I have a specific vision for my master bathroom; a renovation loan makes that vision a reality. I believe that small renovations should be made as soon as possible after the purchase, so a renovation loan allows the closing to happen, Realtors to get paid, and then the work begins.  This way, I get to enjoy the home I want sooner. 

When did you last sell a home that perfectly met the borrower's needs? The answer is likely never. Closing a renovation loan shouldn't take any longer than any other loan. We've closed them in as little as 21 days, but 28-35 is a typical timeframe. If it takes any longer to close than that, you may need to reconsider your team. 

When a lender says it will take 60-90 days to close the loan, they typically try to micromanage every aspect of the team's work. A better way is to build a team and let the team function. Let each of the members run down the field at the same time. The other common mistake many lenders make is completing all of their work before allowing the consultant to start their work instead of making them wait as if they are holding up the loan. That would be a travesty as they could have been doing their work simultaneously and closed the loan much faster.

 

203k loan, 203k, 203k, conover NC, Taylorsville NC, 

Downtown 6/14/2024 42  6/29  124

 

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.

following Mike Young on Twitter Facebook You Tube 203konline.com MY 203k Team bug

Comments(0)