Mike's 203k Blog

Increased 203k Loan Limits for 2022Today, the Federal Housing Administration (FHA) published Mortgagee Letter 2020-41, 2021 Nationwide Forward Mortgage Limits, which provides the maximum mortgage limits for FHA-insured Title II forward mortgages. These new loan limits are effective for case numbe...

The secret to get your FHA 203k project closed FASTERMy favorite story about closing fast 203k deals has always been with Donna Nix when she closed her first full 203k in 21 days. She and others get it that nothing happens until the paperwork is complete and the clock doesn't start ticking until ...

are the FHA 203k loans as strong as they ever were?What can we say about that? Yes, and No is the right answer. Why is that? Originally the 203k was intended for borrower's that were credit challenged. That is no longer the case, many and I do mean many, borrowers these days just want to have som...

Need a lender for a non-profit for a 203k I need a lender for Non-profits all over the USA, if you are open to discussing it let me hear from you.

I have a Mac but need my favorite PC programs to run on it, What can I do? Use Boot Camp Boot Camp comes with your Mac and lets you install Microsoft Windows. No need to download anything yourself — just open Boot Camp Assistant and it will guide you through the rest. How to install Windows usin...

Renovation loans: What's in it for the Realtor?If you are a realtor and would like a PowerPoint copy of our rendition of "What's in it for me, the Realtor," just email me with that in the subject line; no obligation.Check out "What's in it for me, the Realtor." While thousands of 203k seminars ar...

FHA 203k Consultants, it's time to recertify 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(k...

Low interest renovation financing available for investorsYes, yes, yes. Notice it isn't a question, but if it were the answer would be yes. If you are an investor and  have been using hard money to get your renovations completed. You have been paying to much.We have low interest renovation loans ...

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...

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...