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.
RECENT BLOG POSTS
The guideline allows a consultant to charge what is common and typical for that service area.There seems to be some confusion on this issue as when the "new guideline" and that is all it is, a guideline, came out it hadn't fully addressed our draw inspection fees. There are several other issues t...
06/10/2016
I find it arrogant when a lender requests demands an invoice for each draw inspection. We point out the guideline to them only to have them say something like "if you want to get paid, you will fill out an invoice". It is an extra step, they add to the process. If they actually read that guidelin...
06/02/2016
Freddie Mac and Fannie Mae, we were fooled again.The bailout was just a bunch of crap. It was never intended to go back to the shareholders, It was and is just another power grab for government control.  Read the entire article Can you believe this... of course you can, with the current administr...
05/21/2016
Had a good time at the Plaza Home Mortgage Event for their brokers. We were on hand to provide support for our clients and to answer "Consultant Questions". Ragen Cunningham, their national renovation specialist, was there to make the presentation. These type events are very good to get the whole...
05/21/2016
Right from the "new" guidelineThe Mortgagee (lender)  must obtain a written agreement between the Consultant and the Borrower that fully explains the services to be performed and the fees to be charged for each service. The written agreement must disclose to the Borrower that any  inspection perf...
02/21/2016
v16 of our award winning software for consultants is now availableUnderwriters voted us the easiest to underwrite by 98:2.The v16 has over 175 improvements over our v10. I talked with someone in MA this morning who is still using our v4, there must be 350-400 improvements over that version. He wi...
01/23/2016
Is the FHA 203k my best choice for a renovation loan?Not necessarily. What you should consider is what kind of down payment you may have. If you are looking for a low down payment then the FHA 203k loan may be your best option. They do penalize you however by making you pay an insurance premium e...
01/03/2016
203k Consultant Seattle WAWhen do you need a 203k consultant? Every time you have a 203k loan.  Why would you want a consultant on a Limited 203k? They represent 98% of the problem 203ks, would be a good indication that something isn't working without a consultant. What does a 203k consultant do?...
01/02/2016
Miami FL is ripe for the FHA 203k loan programYes, it is. Miami and the Greater Miami area is a really hot bed for the FHA 203k and the HomeStyle renovation. I have always believed that every home you might purchase that isn't brand new is a potential renovation loan.1) Realtor sells a house that...
01/02/2016
Miami FHA 203k consultant on the move.Jimmy Fitzgerald is the son of Tommy Fitzgerald in Ocala and is off and running with his 203k business. Jimmy has been a contractor for a number of years and as you know that makes the best consultants as they are already well equipped to complete competent b...
12/13/2015
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Mike Young

FHA 203k Consultant 916-758-1809
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