Mike's 203k Blog

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Home Inspector - 203kOnLine.com, covering the USA - S0289
203k loans, the hottest renovation loan product on the market. Offering quick closings on homes that require repairs.
Manufactured home financing with renovation money too.We can do those for owner occupants on owned land, post 6/1976. Lots of these exist where the owner of the home also owners the land beneath the home. Yes they can be renovated with an FHA 203k or the HomeStyle® Renovation Mortgage which is a ...
Building a business with renovation projectsI'll be speaking at Merritt College Wednesday night in case you want to join us for that talk... hope they don't mind.This is  a primer with insight how to build a business using renovation loans to achieve what your competition doesn't.1) Got low inven...
Renovation loans  What's in it for the RealtorOur radio show is all about renovation loans. Feel free to call in to listen at 712-775-4842 or visit us on line each Sunday between 1-2 pm PST.  To listen on the internet merely click here. Be part of the show by calling in 888-627-6008 toll free or ...
FHA 203k Consultants, it's time to re-certify Every two years consultants are required to re-certify, it is that time of the year again. I understand it is hard to believe that two years have passed since the first re-certification. vi. Biennial Recertification To retain placement on the FHA 203(...
A common FHA 203k mistakeI can't tell you how many times I see this mistake in judgment happen.1st Scenario - Borrower wants to make his job as low as possible, to keep the loan amount down. They tell us scope #1 with a very small scope in comparison to what they really want to do. The are puttin...
On FHA projects closing on or after 27 January 2017 relief is on its way. Looks like the new rate is .55% versus the old .85%. That means if you were paying $500 per month as an example your client now will pay only about $324, so they will have an additional $176 to use for the actual house paym...
Sure why not?My office is only 41 miles from Mill Valley, sounds like a reasonable request. Oh, but at 4 pm it is a 2.5 hour ride home. Traffic patterns can be a real deterrent when trying to plan a productive day. On a race day it may take even longer... will take even longer. Sonoma Raceway cha...
Received a message on my phone about a 203k loan draw inspection needed on Christmas Day in Modesto... no address, no name, just "this is the contractor on the job in Modesto, need an inspection at 3 pm today, I know it is Christmas Day but I really need the cash flow."I was mystified and was lau...
I have a rock foundation, will FHA guarantee the loan?If the foundation is still in tact and has not failed, it is very likely you can get FHA Guaranteed financing with the FHA 203b or the FHA 203k programs. Yes is the short answer.I had one of these years ago that we were appraising, the challen...
I hope you all have great things planned this weekend and Monday. Tomorrow, Saturday we will have fireworks over the lake in Graeagle, CA, Sunday is a parade to celebrate the 4th of July, and everyone relaxes at home on the 4th with their families. Happy 4th of JulyGraeagle is located about 45 mi...

Mike Young

FHA 203k Consultant 916-758-1807
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